We use ours enough that they will waive their delivery fee once per tenant stay.

I went ahead and pay the retainer fee to have anna as my retainer. so let see how this plays out

q=f8z5B-7KWMortgage DetailsHome value:$495,000Down payment:20.00%Loan amount:$396,000Interest rate:6.10%Loan term:30 yearsStart date:Aug, 2024Property tax:$6,000.00PMI:0.50%Yearly Home Insurance:$3,000Monthly HOA Fee:$0BalancePaymentsTaxes & FeesInterestPrincipalBalance20242029203420392044204920540150k300k450k015k30k45k Mortgage Repayment Summary$3,149.74Monthly PaymentPMInot required$99,000.00Down payment amount20.00%Down payment %Jul, 2054Loan pay-off date$467,906.17Total Interest Paid$500.00Monthly Tax Paid$180,000.00Total Tax Paid$250.00Monthly Home Insurance$90,000.00Total Home Insurance$37,796.87Annual Payment Amount$1,133,906.17Total of 360 Payments

In an effort to make sure they do hold up the referral fee would you have them sign a referral agreement?  

Every property is listed on the market before the tenants move out.I agree with you that in the ROI calculations, one needs to assume for 10-20% vacancy rate + 10% property management fee.

I would think the biggest red flag would be asking for any fees other than an appraisal up front - would you agree?

Other brokerages offer 100% commission for a flat fee and might offer some small broad mass training, but you'll have your time.

@Joe SiDue to your high net worth, I recommend that you speak with a fee-only financial planner who is a fiduciary ASAP.

Scenario 1: 5/1 ARMRate: 5.675%Monthly Payment: $5100Prepayment Penalty: 3/2/1Closing Cost: Broker Fees: $11,016 (1.25%)Lender Fees: ~$2,000Loan Fees: $600Plus standard title and other feesScenario 2: 30 year fixedRate: 7.375%Monthly Payment: $6086Prepayment Penalty: 5/4/3/2/1Closing Cost: Broker Fees: $11,016 (1.25%)Lender Fees: ~$2,000Loan Fees: $0Plus standard title and other fees5/1 ARM looks attractive but not sure if that's what other people opt for that for a STR property? 

Take out fees, closing costs, etc. and that's maybe 15-18k to play with.