They charge me 7% for the basic guaranteed rent service (along with the listing fee) and then if they do manage any of the tenant work orders there is an additional fee on top of that because I only signed up at the lowest level where owners manage work orders. 

In Madison, and I assume your market, we have always had discount broker options to basically just get your listing on the MLS and not much else as well as sellers just exposing it to the market themselves off the MLS and hoping to maybe pay no buyer agent commission, where the buyers have no agent they are working with or the buyer agrees to pay their agent directly. 

Please note the information provided below is a layman's definition designed to provide a basic understanding for the general audience.

The issue that I'm facing now is whether I want to pull it out against one of my rentals or on my primary.I have found a bank that will allow me to borrow as a second lien on rentals but their rates are higher than what I could get when just doing it against my primary.What I'm most worried about is what happens in a worst case scenario, should something drastic happen in the market.From what I understand, using the money against a rental doesn't necessarily provide much more of a safety blanket in case things hit the fan because if, somehow, the HELOC lender can't recover their money, you'll get sued anyways.

But those figures do include the onsite-manager, who basically just pays a discounted rent in exchange for doing the onsite-manager duties.

@Mary Umoh, have you looked at the basic financials of this conversion?  

Basically, they have the right to spend up to $500 without your approval, so you cannot really stop them from doing so.

Basically, if you're an LP, you are the BANKER. 

My A class that I own I self manage I have a RE agent that puts them up they find a tenant I require 700 plus fico so that weeds out 90% of renters and then I set them up on auto pay and if they have an issue we send handyman.. to be fair my units are basically new construction and townhouses in HOA's in the Desert ( vegas) so there simply is not a lot of maintenance. there is A class in every city its just that investors get so focused on  positive cash flow they dont buy those for rental purposes so they miss out on the best rental tenants.. the higher the cash flow on paper the lower the quality of the units.. its a fact..

My goals are to provide financial freedom for my future family and establish a sustainable safety net if physical limitations prevent me from retiring from my current W-2s.