Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

The other is that small multi unit buildings typically have a few less expenses since they are run more like mom and pop buildings (No LLC, no leasing fees, no property manager fees, etc). 

Are there any other move in fees that should be included as well?

I have been offered to sign up (fee involved).   

Usually I would think it's easier to have the LLC where you are.In SC I can create a LLC for $110 and not have any annual fees to maintain it.

Plus it better ties investment performance throughout the organization from property porter up to CEO.To your point, there are some vertically integrated operators that charge above market fees for their internal operations.  

Operating Cash Waterfall looks as follows:1) Dad gets 10% pref on his unreturned capital ($4m * 10%) = $400k2) Dad / You / Sis split the next profits 20 / 40 / 40 - $80k / $160k / $160kCash Waterfall on a capital event (cash out refi or sale) as follows - lets say it sells for $5m in a few years1) First dad is paid back on his unreturned capital + any unpaid preferred returns - $4m2) Then balance is split Dad / You / Sis   20/40/40 - $200k / $400k / $400kYou could do management fees for additional involvement, fees upon a sale, etc - can go wild. 

If you do the math it makes much more sense than paying dorm fees And your kid gets a good education on property ownership and management in the process. 

I found a local broker that can do a 80-85% LTV for 1500 in origination fees which is much lower than current mortgage servicers price of 7500.

Quote from @Daniel Windingstad: Hello,I own 2 properties (1 sf, 1 duplex) in Minnesota, and find that the rules, fees, tenant laws, taxes, etc.