It's super expensive and within the next few years you'll very likely have an opportunity to refi in to a rate in the 5% range.

If you paid all cash, you paid full price for the property, and the cash flow, any amount of cash flow, is only playing catchup. 

He is trained to determine if it's my expense or a tenant expense, get it done, email me back when done, either with a bill or confirmation that the tenant has taken care of it.

Does he and his roommate understand the rent must be paid in full each month and they are both liable if it is not paid regardless of who has or has not paid their share?  

One paid off (worth around 1.4m) student rental.

Start by formalizing the transition—create a lease agreement and maintain detailed records of rental income and expenses.

@Stephen Schroeder it would be fantastic for PMCs to be able to charge owners as you describe, as owners might then truly appreciate everything their PMC does for them.Unfortunately, no one has yet devised how to practically do this.So, PMCs' absorb most office & admin expenses and are compensated for them via the monthly fees they charge their clients.

With an average monthly profit of about $1,175 after expenses, it’s proving to be a strong investment.If your parents sell their home and want to move in, you’d need to weigh the trade-offs—losing that steady revenue vs. the stability of a long-term tenant.

The property isn’t worth what he paid for it. 

Previously I'd always used Stessa, which has a great Net Cash Flow statement view, breaking down the usual income/expenses, but also includes a section for Interest/Principal, and another section for CapEx.