However it is very difficult to get close to the 1% bench mark in terms of rents vs actual property cost in this market.Property cost: 140kBank finance: yes Down payment + closing cost + minor repair costs - $37000 Expected rent: $1100Property management fee: 10% Mortgage + insurance + property tax: $705net: approx $200 - $250 per month What do you guys think ?

He's giving us all the subs contact info and bids at pass through pricing (no markup) so we're seeing what he'd normally pay (we're paying subs directly) and will have that as a benchmark for future projects.

He's a broker/agent and investor with Benchmark Realty, and works with a lot of investors, too.

I’ll use the 30 day window you referenced as a benchmark before I start to worry. 

A step up in profit percentage for exceeding performance benchmarks?

Aside from asking if they can do some work, when you decide on the scope of work draw up a clear contract that includes milestone payments for hitting certain benchmarks in the project by certain dates. 

If there are enough rentals in your market, I've found the data to be OK from a benchmarking standpoint.

This can give you a benchmark for the cap rate you might expect for your property.3.

There are benchmarks in units where the right moves and money has to be spent to do it right.

You set the benchmark you're comfortable with.