Hey @Keith Mintz, this was the standard AirBNB model when they started.It isn't something I am interested in, but if you do a search, you can find more info.

I don't think it's a bad business model, a turnkey company marketing to OOS investors, but since I didn't do business with them, I don't know much about their homes. 

Then you and sis start looking at the market to find properties that fit your joint goal, and dad looks at his portfolio to find the places he wants to sell to get the funds to arrive at the model. 

There may be PM models out there that are hospitality based that can drive up revenue, and possibly not be 25%+ for you.

But, as you pointed out, the product is money, and keeping the conversation focused on the exchange of value is key for others.It’s all about knowing your audience, and it sounds like your no-nonsense style has been incredibly effective. 

With the lower LTVs offered by senior lenders these days, it may be tempting to look at preferred equity and it may make sense since technically it is cheaper than LP equity, but also keep in mind they have a higher liquidation preference (obviously) but will often want all the cashflow (or a majority of it) to come to them before the LP investors and will also want large reserves, so make sure you model out the cashflows and understand the end-to-end deal with the preferred equity investors.We have some institutional investors with whom we did a combination of a pref and JV deal and it worked quite well for everyone including them and the LP investors.

It's easy to set up an account for each property and sub-accounts under that, which is how I would integrate the profit first model if I were you.

you can do a hard money style loan where its 50% down on the land and lender provides 100% of construction 

A client can also close on a new property in less than 45 days so no long closing or pre construction risk. 1031 exchanges are easy to fulfill with our model. 

I work for KW and we belive in MODELS & SYSTEMS.