Do you pay rent and have a lease? 

Oregon were i am at is bad with this as well on the resi side.. but on Commercial there is no squatting those laws that resi tenants have do not exist for Commercial you post a 3 day notice and then you can legally enter change the locks kick whoever is in out.. that includes your commercial tenant that is not paying. 

I know it's probably nothing for a long term tenant but this particular unit will be short term only and would imagine people pay a premium for the experience.

To my surprise, they provided a quote for a 23% management fee per month rent, which includes a one-year rent guarantee (regardless of whether tenants pay or not) and a maintenance credit of 2.5k per year.I must admit, I was taken aback by the figure.

I'm reading your thread and also am looking for a multifamily and would prefer to pay 20% down instead of 25% the lender I am applying with just told me that I have to put down 25% and that it's standard. 

Her mortgage statement is escrowed, this escrow pays the insurance only since she is exempt from paying property taxes.

I believe they are on phase 2 currently with delivery around 2025. 

All the gurus & mentors tell you that you can do real estate with no money or credit, except, of course, for the money you have to pay them to learn plenty you could easily find for free online or just thru the School of Hard Knocks. 

But all else being equal, it increases earlier year distributions, but reduces the sale distribution, since there is now a larger loan to pay off upon sale.  

I would seek and pay more attention to the property itself and making it better, Add value.