Opening a bank account in Michigan

[Maisa Vahedi]

Hi all, 

I'm hope you can help me with the my query. I have put down my deposit for a SFH in Rochester, New York. Cost is $59,900 and Net annual income is $10,339. Its making 17% NOI.

My question is ; since I'm a foreign investor I have arranged to buy this property through an international property consultant based in UK. They have sent me some paperwork to be filled out. They have advised to go with Stateside APM (administrative property management). They will act as the resident agent and take care of the filling of the state return. They charge $20 per month for this service. I need a bank account set up - and for this they (Stateside) require a $1,000 deposit to opne my account and it will be credited to my account. They are also requesting a $18 bank services fee per month and I need to sign a form that allows the company to deduct it. So, annually that's $456 additional expenses which I didn't account for when I purchased the property. Does anyone use services like these? or if not, do you think I'm paying too much for this service or it's normal fees since I'm an international investor. 

Thank you for your comments and feedbacks!