Compared to a mortgage broker that adds on so many fees for the same loan.

No matter the market run your numbers and make sure it makes sense for that local area compared to what you can expect.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Since they can't do each property individually, they use comparable sales to make broad generalizations to determine percent changes.

I am clueless when it comes to the economic development board, but I do know that Waco in general is extremely business friendly and has very little regulations compared to other Texas cities.

If you are buying turnkey, buy under-value compared to comps.

I also just generally compared to the 1% rule. 

The account fees are minimal compared to the potential gain with most syndication offerings. 

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

For tax purposes, it's considered a reimbursement for property damage.