@Dmitriy Fomichenko points need to be consideeeed as well as other logistical matters in managing Bnb properties. 

As long as landlords continue to operate out of fear we will never have answers.Document every thing, all conversations, and, as Greg suggests, be prepared for them to play the "emotion" card.

Residual Cash, Dividend Income, Interest Income, Net Income, Net Operating Income, etc.

You will need a LLC, EIN Number, Operating Agreement, etc. 

I think his 12% may be referencing his multi-family that he owns and operates, unless he's not able to pull out all his funding.

However, I don't understand how buildings are financed when the net operating income will not support the mortgage payment.

My current model, as an owner-operator, accounts for my time - here's how:  Each new tenant signs a list of repair estimates they will be charged for various turnover expenses as well as labor at $25/hr for anything not listed. 

Provides Operating Agreement.

LMGTFYDid you mean: condotel Search ResultsFeatured snippet from the webcondotelvietnam.com A condo hotel, also known as a Condotel, hotel-condo or a Contel, is a building, which is legally a condominium but which is operated as a hotel, offering short term rentals, and which maintains a Front Desk.

They have input to the operator but they don't operate the project.