I've had limited exposure, but what I have seen:1) You get management fee of 20% off the top, typically paid monthly or quarterly2) Partners get preferred payout of the next x%, paid quarterly or annually3) You then all split anything exceeding x%, paid quarterly or annually4) Sometimes there's an additional bonus for you if profits exceed y%, typically paid annuallyAny capital gains from sales would be considered part of the profits.

So thinking of the longer term bonuses, this may be the way to go on this deal.I will caution that you really should at least investigate financing for your permanent debt.

Bonus if they have STR experience.

The bonus there is that we don't have to do a thing to the property to start collecting rent... as they just stay in place.  

There's even a bonus video on advanced underwriting we did for those who purchase directly from BP rather than Amazon, etc.Good luck!

The fencing is 15 year property which would qualify for bonus depreciation.

School districts are not our priority, but it is a bonus point to consider.

Jay, many of the added accoutrements that go along with STRs are considered personal property and can be eligible for bonus depreciation, which make them much more desirable for cost seg.A dock is considered 'land improvements' and depreciates on a 15 year schedule, which you can also bonus depreciate. 

Mobile Home Parks can generate a lot of bonus depreciation. 

If your bonus is dependent on how many hours you bill (and you pay for people to deliver your dry cleaning and food so you can keep billing), why would you be behind in your rent and draft letters back and forth arguing about it?