We just got voted as the Best Laundry Facility in Alaska within a year of operations.

In my limited experience I would say that if you go virtual in a different market (say a smaller city with lower priced homes) you'll generate more leads, but you may struggle with disposition as there is less Investor activity from your potential end buyers (Small,Med, and Large Flippers, Institutional/Hedge Fund Buyers, Turnkey Operators..etc) On the flip side if you stay in the more competitive market it will be a grind to get those first few leads and to secure a contract but your odds of not being able to dispo it should drastically decrease (Assuming you have a discounted deal in the right area) and that check should be NICE. 

Lenders will typically limit the amount you can borrow based on the Debt Service Coverage Ratio (DSCR) or in other words the amount of income left after operating expenses in order tp pay the loan payments.

A fee of $8K to manage the operation.2. 30% of the profits go to me. 3. 70% of the profits go to the investors. 

Only as an actual operator.

It seems like there's a lot of red flags here but I'm trying to see if I'm overlooking something or if they way they are operating is normal in the property management space, although from what I've seen it seems most companies pay bills out of their own pocket first and then deduct that from rental income before sending payment to the owner.Many thanks for your input!

The operational costs and logistics can be quite a headache. 

Be sure to iron out the operating agreement.

It doesn't matter how many are involved, how much money or even if they're related to you.With your typical syndication structure, the passive investors are Limited Partners (LP) and you as the operator are the general partner (GP).

@Lemanuel Turnipseed the only way you could legally own and operate a STR in Orleans Parish would be to buy a property that is zoned commercial or mixed use.