If your rental rate is below the market anyway, a Tenant might consider this to be win as they would get the lower rate in the beginning and just rise to the level they were looking at everywhere else.Step clauses can be written right into the lease, or created by using 3 month lease terms with an auto-renewal at the step up rental rate price. 

Some PMC's will charge a lower percentage fee, but will charge it whether tenant paying or not.

A professional property manager should handle the heavy lifting, ensuring your investment is protected and profitable without adding stress to your plate.

There is a ton of fix and flip going on in Brooklyn and I am trying to work my confidence towards that after my first project at a lower price point around 300K somewhere (CT seems like my only option). 

Where did you find this company and or was it referred to you.2. did you go with them because their fee's and interest rates were advertised as lower than other lenders.

I can send you their contact info.Quick Tip - I would start with a range of offers (lower-end), that usually helps my clients get out of the analysis paralysis phase.

You borrower at a lower rate to invest in something higher.

Happy to chat...being a local GC takes out a lot of the risk of the biggest variable for most investors (unpredictable rehab costs) and also allows you to consider more options than the average investor, with your rehab costs being significantly lower.

Some local banks are fine with 20% down but I don't think they'll go any lower.

You could bring less down and possibly have a lower interest rate since you will be living there.