It is not typical for owners to collect their gross funds and receive a bill for your fees.

If your targeting a payment of $2300 that means that you need to make at least $4,600 per month gross or $55,200 annual gross.

At the end, subtract the mortgage payment and cap ex reserve (depends on age of the property, but 2.5-10% of gross rent received) and arrive at cash flow.

As for my Smokies properties I am experience something different than others and I will wait till May closes out and I have solid, unchanging and complete numbers (Gross, ADR, Occupancy %) to report what I am seeing versus previous years.  

What are the projected gross rents?

My last project just appraised for $193k and generates $2,400 gross monthly rents (duplex).Google the "state of the city address".

Gross 85 grand your first your and have a COC return of 50% or higher.

_____________________________________________________________Current Rents:House: Basement Apt: Current owner occupies $0House: 4 bed, former BnB, currently 1 room LTR, frequently STRs (travel nurses) 8001 BR Apt: $1000Studio: 900Cabin 1br: 1000Cabin Studio: 700Current Gross Rents: 4400___________________________________________________________Potential Rents - All rents are currently below market*:House: Basement Apt: Owner occupies $1500 ($0)House: 4 bed LTR $2800 STR $5500+ BnB 20,0001 BR Apt: $1500Studio: 1200Cabin 1br: 1500Cabin Studio: 1200*There is an addition attic apartment unused: 1200Potential Gross Rents: LTR=$9400 - STR=$12,100Tax:530/moInsurance:250/moAssumptions: Small family wanting to househack and come as close as possible to no monthly expense.

But having been up in the unit on multiple occasions when the former tenant was cooking, I have always been SHOCKED at how hot, steamy, and gross the kitchen gets.

We already have 74k in gross bookings for next year.