Did you retain the existing property management team? 

That equity that people retain by doing it themselves is simply the profit of the turn key company.

Or do you estimate there being enough revenue for a hotel management company to be retained?

Is there possibly a play on this that you just triple net LEASE out the storage units to someone else to run while still retaining the property rights should you have a higher and better use down the road?

Other things I have seen charged at move in- -cleaning fee (usually the lease says something like $100 of your deposit will be retained as a cleaning fee)-Pet deposit/ non refundable pet charge-advance payment of utilities (landlord was paying them and charging back to the tenants, he wanted the money before he got a bill)I don't charge a cleaning fee- to me these imply that they can leave the place a sty when they leave and the $100 covers it.  

Why would a Turnkey Company that's gone to all the effort of retaining a team for every aspect along the way, sell their properties for less than full retail value?

If you plan to allow pets, I would rehab/choose the place accordingly; of course things like avoiding carpets in favor of durable laminates (that won't retain smells) will factor into your decision making.Ultimately I decided I'd rather have a high quality tenant with a pet.

@Joe SplitrockIt’s crystal clear in my convos with the tech community that no one will be able to retain their SF salaries if they moved.

So in summary, this is just a signal that STR has "normalized" as an investment strategy/asset.

So for example, an 80/20 split, the investors bring in all the money for 80%, you as a syndicator get or retain 20%.