Growing up my parents had a few rentals so I had some background, but my involvement mostly consisted of helping to clean, paint, repair, etc. to get the house ready for a new tenant. 

I'm looking at property management fees ranging from 10-30%, miscellaneous fees/costs at varying intervals (cleaning, furniture replacement, special assessments), nightly rental rates ranging from $50 to $150, and totally unknown vacancy rates that vary drastically from building to building.

I have heard that banks have a bottom line percentage that they want to obtain for the properties. 

I have been offered 75% of the purchase price and 100% of the rehab, 80% of the ARV and 100% of the rehab but I have to have at least 15% of the loan and 3 months of payments in an account set aside for that deal, another one was $150,000.00 9.9% one time fee zero interest for up to 24 months on a revolving line of credit, and a few variations of these deals. 

What will likely happen is paint, cleaning and some other minor issues when tenants move out.If you have any specific questions feel free to tag me or PM me.

And have you already lined up financing (either with bank or HML)? 

Do you have a team in place at Fort Lauderdale like cleaning crew, plumber, electrician, key drop off?

Bottom line.

Put property management in OPEX, above the line and put CAP X below the line. 

If you're still short of the 12 months, keep it clean and simple.