I’m not sure who paid legal fees but they must have been significant. 

Then pay them a fee for finding the deal and pay them 8-10% of rents to manage the rental(s).

The property was rented and generated $160 cash flow after mortgage, taxes, insurance and property management fees were paid.

One of the side benefits is that I can avoid the whole draw/inspection process (not overall inspection, just the ones tied to the draws) and don't have to worry about draw fees.

Our 275 sq ft furnished garage should rent for $1600 - $1800/mo and the only extra fees compared to long term is $99/yr to post on furnishedfinders.com. ...I should have this finished by the end of next month, so can keep you updated on whether this plan works and what we rent for. 

Assign a contract: This is where you get a property under contract and you "fee" that you collect at closing is for giving the end buyer the rights to execute on the contract.

I just go in at the first of every month and code each line item to the corresponding property and note what the expense was for (Repair, HOA Fee, Mortgage payment, etc).

I can mark it up with a fee or by increasing the rate (or both, but I never do).

The fees and rate are generally higher on DSCR loans. 

Be prepared for a high rate/high fees