too much Property Management Fees?

[Mallikarjun Reddy Pateel]

Hello Folks,

I'm Looking to purchase my first Rental Property in Kankakee area. I had a Conversation with one Local property Management Company looks like i don't have much options. 

1.asking me to have General Liability Coverage for them above 1million.(purchase price of $120K) is it normal? do the landlords supposed to pay for it or PM Companies should have their own?

2. Biggest deal breaker for me is Tenant replacement. which is 1 Months Rent. if I  do that I will  cash flowing negative. 

and my last question is that Possible to manage a 5 Unit property by myself if I Live Out of state? any online software I can use to leverage for my benefit?