Normally, as @Jaycee Greene suggests, you make a management fee plus a split of cashflow with investors (oversimplified explanation).

And I don’t know if they’ve ever given up a power they took or a fee they’ve imposed. 

If anything explain that there is a fee on top of a lifetime charge (which on its own is kind of weird), but okay. 

-OOS investors rely on service providers like agents and PMs and think they're guaranteed an outcome instead of just paying a fee for a service.  

I heard there's an $800 franchise fee yearly.Thank you. 

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Common deductible expenses include mortgage interest, property management fees, repairs, and even travel expenses related to property management.

I use Buildium for tracking rent, fees, leases, and collecting online payments, but I don't use their reports for much, as I end up copying my online banking each year into spreadsheets.I've been using Rental Hero for the last hour and already impressed with it.

For now, it Looks like your roommate/tenant can cover half of your mortgage (plus hoa fees).