Airbnb partnership % split

[Jerrod Mink]

Hey folks,

Here's the scenario, I've got some friends that want to buy a condo on Pensacola Beach as a short term rental, but they don't have any real estate experience and they want to bring me in on the deal to manage it for them since I already have a few self-managed Airbnb's of my own.  

How would you recommend we structure this?  The rate for short-term rental management in our area ranges from about 15% on the low end to 30% on the high end.  These folks would buy it, be responsible for all expenses, etc, and just need me to oversee/manage the day-to-day operations.  

We'd close this with an attorney and have everything on the up-and-up.  Would love to hear some input from folks who've done something like this.  i.e. a partnership where I have no money in the deal and manage EVERYTHING from acquisition to day-to-day management.

[Candace Pfab]

@Jerrod Mink Do you have a FL real estate license? You will need that to manage property for others for a fee. https://www.allpropertymanagement.com/resources/property-management-laws/florida/