It will likely depend more on the property's debt service coverage ratio than on an arbitrary percentage. 

My Contractor an I visited both properties and he provided the quote for services and materials.

Also, it creates value as properties are improved and a service is offered.

Property management and cleaning is key - since you don't live far away, you can get away with managing it yourselves (communicating with guests, arranging cleaning, arranging repairs) but you need to find a cleaning service who would be available in the short turnover window.

How much are you planning to borrow and will the new actual income adequately service that debt.

Once you figure out exactly what they are doing or how they structure these it would be a nice service to post about the actual set up .. 

It certainly does fulfill the requirements I'm looking for but I guess I should also indicate that I'm not interested in servicers either.

She kept the apartments maintained and heated (one one system and service now) but never rented and legally converted it to a SFH with the town. 

I would like to speak with those with experience in their service.

I lost 10% of the debt service ratio for being vacant, otherwise I could have gotten to 75%  91,980 cash out 1,750, processing fee1,606  origination 87,614 house and reno 90,970 Total spend 1010 cash outIn the final analysis, I got all my money out.