Property Management is ripping me off??

[Ki Lee]

Hey BP, I have a 3 unit property in Logan Square, Chicago. 

I have a PM management company that takes care of it, and in the past 5 years, didn't pay much attention to the numbers. As I started scrutinizing the numbers, I realize that the rent I'm getting is pretty good - 1.2% of PP.  This makes me believe that I should be able to generate a nice cash flow.  But I dont.  I'm pretty much break even or even having a slightly negative cash flow year after year.  Now, I know that the 1% rule isn't perfect, but I'm wondering if the management is ripping me off.  This doesn't make sense.  

A few things about the property - It IS old.  100 years +, and the taxes are rather high in Chicago.  Property tax is rather high - $6000+ for $400K house.  I do pay for water/trash/snow removal/landscaping  and gas/electric for common area.  But even given these facts, not cash-flowing seems very suspicious.  What do you guys think?

It's hard to point our what is exactly racking up all these bills, but the turnover cost is huge.  between commission for signing a new lease and turning over the new unit, it comes out to almost $4,000.  Is this outrageous for a unit that has a rent of $1700?  Can you shed some light?

I need help.  The contract I signed locks me in until next March or I need to pay a fee that equals to 50% of their expected PM fees.  Anybody know a very reputable PM company in the Logan square area?  

Thanks in advance