A solid PM has the systems to vet rigorously without sacrificing speed, which is a massive hedge against the "hidden cost" of a bad placement.

Hidden fees, policy interpretations, and late-stage surprises only surface through jurisdiction conversations and local expertise.

@Chris Mooney every brokerage will slice up the splits and fees etc in a different way but it all seems to come out the same in the end. 

We set proper expectations with the seller and then flat fee the property!

"Most claims are known overflows, not hidden leaks."

A STVR can generate all bookings without any 15% platform fees.

I have a HOA who is attempting to collect HOA fees for the period when the prior owner owned it.

Should the 15.5% fee just be added as an expense line item to create a conservative proforma?  

In the base example data that's in there the funding is coming from an SBLOC and the rehab costs are being folded into the financing costs and there are no origination fees.

Obviously depends on your situation and how many units you're managing.If you do go the PM route, definitely interview at least 3-4 companies and ask how they handle maintenance calls, vacancy turnovers, and what their fee structure looks like (watch out for hidden fees).