The house the poster in this thread is talking about is only being marked-up about 20% -- using the B&N benchmark, it doesn't seem too bad. 

Firstly, forget about the 2% rule - it's fiction and, other than perhaps a benchmark by which to pat yourself on the back, has no relevance to evaluating a business (which is what you are doing).Let's say average rents for similar buildings (12 - 20 units) in the same local area indicate a theoretical scheduled (not gross) rent  of 110K.  

Talk to a local commercial broker to find out what the average cap might be in the area you are looking in and use that as your benchmark.

In high appreciation areas of Houston, 1% is a benchmark, but the investors in that space know they are, at best, breaking even and banking in appreciation.  

Knowing the averages of what investors look for in the marketplace - is the benchmark strictly a Cash on Cash for return?  

I trying to determine my fees to be charged to the property owner and I wanted to benchmark the prices that are currently set within the property management industry.

I use a series of benchmarks to value the properties I purchase.I recommend you buy based primarily based on current rents, not potential rents.  

After that I'd buy as many properties of one and the same type so I can bench mark them and build up expertise in that area.

Property management – does anyone have experience with a property management company who operates in the area. could you please share your recommendationsWhat kind of ROIs and Cap rates should one be benchmarking to in this neighborhood of Newark Experienced Newark Investors - @Ibrahim Hughes, @Steve Wilcox, @Angelo Mart, Others – do let me know what you think about Upper Vailsburg and ideal returns here.

If you have some heavier permitting restrictions I would think 4+ months would be a good benchmark.