If you subtract the limited revenue by the costs of cleaning, fees, and increased advertising; then you'll get a sense of the profit margin.

Don't let the higher 'revenue' that an AirBNB might provide you totally sway you as you have to remember with an STR you are responsible for all the costs including cable, electricity, etc which can add up to 60-75% of your income. 

I missed out on thousands in revenue when I first started by using Airbnb's smart pricing tool-Put a lock box somewhere on the property for when your digital lock runs out of batteries or malfunctionsHope this helps! 

I now run my numbers assuming a 10% increase in property taxes, especially since the city's m/o has been to fleece property owners in order to make up for reduced tax revenue.

These self-financed corporations are paying substantially more than individuals can/will because banks simply will NOT lend enough for individuals to pay what the corporations are (and clearly the corporations have some efficiencies of scale/etc that allow them to make bigger profits off the same revenues).

It really depends on the most equitable way to do things based on what people put into the business.Also, you have to decide how to split revenues and profits.

Are expenses going to be 40%, 50%, or 60% of your gross revenues?

It's important to understand that almost all of the income properties we are buying have huge potential for increased revenues so we have quite a bit of work to do to maximize their potential.

@Scott Krone I was thinking, possibly utilizing the existing building as boat or RV storage and renting out the upstairs 2bed/1bath (whole other issue there with an apartment inside a pole structure) for some instant revenue.

I'm considering paying my property manager a percentage of gross revenue and percentage of NOI to keep interests aligned.