@Joey Brantley400K should get you 60-80k in gross STR revenue. 

I'm not about to increase his rent because I know I would have to make cosmetic updates to the property if he left and even if I did rent it for market rent, the new tenant may not stay beyond their lease term (net-zero; 1 month of vacancy after 1 year would equal the entire additional rent revenue), may not pay reliably, and may cause damage.

AirDNA estimates my annual revenue at roughly $1,040,00. 

AirDNA estimates my annual revenue at roughly $1,040,00.

I drastically increased the rent revenue while getting the crazy appreciation of Austin!

Our current revenue is not enough yet to pay them hourly or a salary so what they earn would have to be tied to a lead they brought in, follow up with etc then ultimately turning into a closed deal.  2% acquisition fee? 

If so this could be additional revenue for you if you take on the management yourself.  

. :) On the flip side, there are over 30K students that attend USF, with  satellite campuses in other locations that draws traffic and perhaps STR revenue?!

We have spoken to a couple of agencies but it seems a bit all over the place- like they base everything on homes they currently manage and can't give us a straight answer on how they would revenue manage our home.

Assuming 1% rule for revenue and 50% rule for opex, the annual return will be 6%, assuming no mortgage.For 80% LTV with good interest rate, the mortgage payments would be around 30-35% of the revenue.