Here's an ideal PM contract: The two keys are: The PM is incentivized to make you money, not charge high fees, and is contractually bound to provide reporting that you can understand in a timely manner. 

If you're looking to treat this as a regular rental, then charging undermarket rent throws a monkey wrench in that. 

For example I don’t know of any say plumber that charges $120 an hour but brings two guys and charges $240.  

Sometimes I'll tell them not to fix it (a punch hole in the wall) and I'm charging them for it.

Attorney's Office, Eastern District of TexasPLANO, Texas – Three Texas women have been charged with federal violations related to a mortgage fraud scheme in the Eastern District of Texas, announced U.S.

.: I was told by my PM at a recent move out it was now considered normal wear and tear and you couldn’t charge for it. 

Minoan does charge you once they put in the order, so it is not for free.

The management company replaced some of them, however there are still several other fees related to the theft that we are trying to get reimbursed for (they told us we would not be charged, they charged us anyways).

Quote from @Jonathan Blanco: Is it worth seeking lenders with $0 lender fees (such as origination, processing and underwriting fees) or do they just get that money by increasing rates and charging higher points? 

I love being on the other side charging everything possible on a credit card but there’s no reason to accept them.