It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

If you are going back and forth about high points between two lenders and miss the extra "fees" that might be charged by one, you are missing the point.

Charging me 7%/mo and 40% of first months income on new tenants.

It's also worth noting that charging order protection for single member LLC's in Florida is poor, so you should consult with an asset protection attorney for better protection options.

I agree with @John Underwood - take a slice of their pie, based on what they're going to charge their property owners.  

Im sure there are points and fees to be charged for the loan upfront which you would want to factor in.

And to get a idea of what you are charging them? 

There's some local and not local companies that do the management - Take calls, set up AirBnB accounts, host etc, and charge 10-20% of the rental incomeHow has your experiences gone? 

Management 10% - The top managers know what it takes to manage here so they will charge you 10%.  

The first thought I had was having my dad charge property management fee to up the rent but pull out some cash flow.