Additionally, I'm interested in understanding typical STR fees to help estimate cash flow.If anyone is willing to share their experiences or offer advice, I would greatly appreciate it.

It is common for PMs to stick fees into paragraphs throughout the agreement, this is another red flag.

When I go to my credit union for a commercial loan there is no junk fees, no origination fee or maybe a half point origination and a better rate.

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

Lower prices usually mean less attention to details, slower communication and most importantly additional fees.

@Kenroy BernardTo acquire a multifamily property in Long Island, develop a VA Loan Strategy, obtain pre-qualification from a lender, factor in renovation costs, conduct market research, build a team with experienced agents, network with investors, strengthen your business plan, expand knowledge through tools, and take action by searching for properties, attending open houses, and setting a closing timeframe.

With $170k to deploy you most likely will have that all in one, maybe two deals, if it doesn’t go well you could end up way worse off.That said, if there are other factors like the property is a huge pain to manage or you are worried the neighborhood may actually get worse or you know you need a new roof in a couple years, then I’d consider selling.Also, even though you said it’s not a high appreciating area, do you think 1-2% is fair?

Most of my renters choose #1 because it provides a clean break.I document everything and I don't accept the early termination notice or start the clock until they pay the termination fee. 

Location plays a big factor into this question. 

The difference is just UW fees, better than paying a 20% increase at payoff to remove properties.