Quote from @Jason Weng: Check out RentWorx.

Any professionally run syndication will have an accounting software that should generate that report for any deal within seconds.  

I checked his licensing, insurance and bond before he started the work.

We want to avoid charging them for the stay plus the deposit, then refunding the deposit after they check out.

accountant?

And then an accountant has to split the K1 into each individual members' K1s.

This is assuming the builder who reviewed your plan has accounted for everything and give you a price that will cover their cost and make a profit in doing so.

Just checking my math.This is obviously after all expense , depreciation, cost set, property tax write offs, 20% etc.my question is are my assumptions correct? 

The other thing we could do is an All in One from Merchants Bank of Indiana (I live near a branch), which is a first position HELOC that is connected to a checking account. 30 year term with adjustable rate.

I would get connected to a real estate focused accountant just to make sure you stay compliant and your doing this right