Then compare those options.

My last renovation of a 2/1, 750sq ft done over the summer cost $20k compared to $16k a year or two ago.

I will go through the typical apartments.com etc to compare similar properties.  

Rents are one way to price a property but if you plan to accept any offers with a loan Comparables are what matters.

Multifamily property is considered a relatively “safe” investment compared to other real estate asset classes.

There's literally only two other comparable houses within a 3 mile radius,  that's actually for sale,  both are selling between 3.5 and 4 mill.Given other homes in the area have not sold recently (I went back as far as 4 years!)

The product they offer vs ours will be very comparable however they have automatic gate for the entry of their customers and we currently do not.

You may also have some challenges in appraisal if they have trouble finding comparable.

That's all dependent on what rents are going for in those areas compared to what your all in monthly costs would be including mortgage, taxes, HOA, etc.

What I am wondering is if there are investors here looking to partner with someone who could act as their STR Manager, but could also contribute a small portion (comparatively to the area) financially, and also contribute in the form of sweat equity (We have family experience working in contracting/carpentry/design).