Their target audience are professionals with cash don't don't have the time or desire to become educated and are willing to pay/forgo some revenue for a experienced investment relations firm. 

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

Remember the more work they do, the more you have to pay them.

Be patient, it's going to pay off. 

The property isn't 'cash flowing' but our renters downstairs take $2,100 off our $5,700 mortgage so that comes down to my fiance and I paying $1,800 to live here.

I definitely would pay attention to key macroeconomic stats such as population growth, job growth, and where companies are moving/developing.

I wouldn’t be excited paying much more than the land value.

She agreed to pay a $400/month pet fee on top of the $1,150 rent.

Additionally, the supply of homes for sale is constrained because of this and will be for some time putting upward pressure on prices in most markets.Thinking about renting your house in Seattle would be wise as someone else will pay the mortgage down, and rents and the value of the property will go up over time.

If your friend is unwilling to pay that then move on.