I have been Landlording and managing my own properties for 20+ years.  

Our strategy was to renovate, rent it out as a STR (short term rental), and manage it ourselves to qualify for the STR tax benefits in the year 2022.

The issue is the property manager was still charging 1300 which it's more than sec 8 approved.

This is a great way to learn about "construction", what it takes to make a property marketable (e.g., trades, remodeling, permits, taxes, settlement process, etc.).  

Look at new construction triplex/duplex condo sales in the heights areas, subtract carrying cost over build timeline, materials, labor and construction costs, what their desired profit in heights deals would be and that would leave you with approximate acquisition cost of the lot. 

If you don't have a background in renovations / project management / construction I would recommend you leave "deal" alone.

If not if you have site control you can look at other permits for construction in the area for other projects.

I feel that I'd be more interested in 50/50 backside split than this (if TIC rules allow this).Does anyone have intel on what they have seen in TIC structures for splits or asset management fees etc?

I co-own a short-term property management company.

Since my main profession is office management for a residential remodeling company, would flipping to build up more capital be a better place to start?