This person would essentially be instrumental in putting the entire deal together.Given the significant role this individual would play, I'm curious about how their involvement is typically reflected in the closing documents, if at all.

I wouldn’t want to purchase or manage STR’s in an area that is unregulated because there is a higher risk associated with the laws changing and then you’re SOL with your investment….take NYC for example or Dallas. 

And to purchase, lay the foundation, electrical, install, and get permitted, I typically have my clients assume $10k total. 

2) What paperwork are investors typically providing in pitching you a deal?

You typically need 20% for the down payment and there are some credit score requirements as well. 

You typically get more bookings (go figure) but also pay a higher management fee.Condos are a dime-a-dozen right now.

I know typical rates are 8-10, sometimes I've seen 12%. 

Being a private money lender who lends out my own money, the typical response I receive from potential borrowers is that it is hard money.

For example, I often see Buyers purchase property thinking there is a $1,000 deposit but then the tenant claims it was $2,000 because they paid the last month's rent.

MFH helps reduce vacancy expense, and you'll typically have a better ROI.