Lets assume the expenses are 50% of gross which would give us an NOI of $6k per month and $72k annually.. at a 6.25% cap the value is at $1,152,000 Have you explored both avenues of rental and resale?

Do people generally go by looking for approximately 18 - 20 percent gross per 100k in STR in the area?

But there is a part of me that's saying, you can pull down 80K a year (I made about 300K last year and live like I make 36K a year gross so 80K a year is still mostly going to savings for me I live below my means so 80K is POSH for me) and be completely debt free and not have to answer to work if I elect not to...No risk of bank calling the loans, etc.

My questions are:Although we are not renting out both sides, should we put two units in the gross monthly rent side?

The gross annual income is $57K.

It's a small town of 2500 people that had a gross motel in town.

If that’s true for you you can take the gross rent x100 and get a rule of thumb value.

Gross.

Alternatively they own the LLC and pay you X% of profits based on gross rents and it is structure as you are a true management company/individual.

The 1099 is gross sales price not net cash received.