Some will have a lower percentage of rents, but will make it up on fees, so if you have a more turns it may cost you more in the end than a flat 10% of rents. 

What percentages are you comfortable with from a conservative position?

If the ROI on an investment is higher than the percentage rate on your student loan then invest. 

You can do a percentage like @John Underwood mentions or just spell it out in a dollar amount or both - 'On June 2019, base rent will increase by 3% -($100/mo.) and the total amount due thereafter, including the month of June will be $X,XXX.'

- More units over which to spread costs- Bigger deals in which investors can be brought inCons- fewer available exit strategies - harder to rehab assuming occupancy- less natural appreciation (investors always want a deal)- owner more likely to pay some utilities - higher percentage of vacancy / more turnover- generally lower caliber of occupant than single family (more hassle)

Is there a specific percentage you require for reserves?

You may only get a percentage, but if it’s that good of a deal it’s better than nothing.

When billing a tenant for contracted work like lawn care, electric, water, and snow removal do you charge a percentage for administration costs?

If you have someone that is a member with beat up credit, they should show a significantly lower percentage of ownership than the members with good credit because members over 20% ownership will have to sign a personal guarantee.Lending has become tiered these days. 

I would assume loan pay back (maybe with interest) and a percentage if/when you sell but I would like some clarity.