Most lockboxes out there are not validating IDs when there are showing requests so it only takes one or two bad apples to land you in hot water with the owners. 

They did not catch the fake ID they got from a potential tenant until after the owners got a shocking surprise when they came to see why the property wasn't renting. 

When I have seen owners charging these fees they have been around $75 but I am not a fan of these charges at ALL.

Does your tax professional suggest you create this LLC and have a 1% owner? 

They only know how to do owner-occupied transactions.Several, but not all, agents here on BP though, SEEM to know what they are doing.If they can't help you analyze ROI or cashflow, and just want you to offer asking prices, then what value do they bring?

Congrats - would you ever buy in this market for pure investment purposes or do you think its mostly just a good market for a owner-use vacation home?

For asset protection, LLCs are over-hyped - you just need good insurance.Set up correctly, an LLC may give you decent anonymity, so tenants don't know you're the owner and can't track you down to retaliate (happened to my manager). 

It also helped that we got a connection from a local bar owner that needed to book musical guests from time to time. 

People are imperfect and things like late payers is something you deal with in your approach to managing properties more-so than in the vetting process because if tenants were perfect most would be owners not renters.

@Kevin Lorick are you getting a monthly Owner Statement showing how much they collected and what was deducted?