Then try to figure out if its best to have their funds go to a CRT or if we as a nonprofit can create a 403(b) plan for the investors.

Now that you have that number figure out what your split with a broker will be the first year.

PM is a thankless business where you are expected to work 24/7 for pennies and every little problem has a finger pointing at the PMC.

So I would expect a pretty heavy rehab for off-market.  

so kudos to you for figuring that out. 

New construction properties can qualify for significant insurance discounts, but otherwise, I generally expect insurance in this area to run a little over 1% of the property’s value if it’s in decent condition.Feel free to DM me if you’d like a good insurance contact to shop around for a better rate.

As expected, consulting with your CPA and the qualified intermediary (QI) handling the exchange is best advised.

I would imagine that the hotel marks up their rates to use airbnb a little to offset their service fees, so the net is pretty close to what you would expect.

Now we are 16 years into it and have an 8 figure net worth.

Of course your specific return requirements will vary, so figure out what the numbers are for your market, analyze them to determine margins and decide if that is an appropriate return for the risk you are taking.