Furthermore, whole note investments benefit from an additional 0.5% annualized yield and are entitled to a share of any extension fees charged to the borrower."  

Quote from @Aaron Wolman: Yes, these charges are fair.

You send a complaint to the NMLS or DRE for failing to disclose, or charging an excessive amount of fees and they will suspend the broker's license.

Hiring someone to do the work will likely cost too much (I would charge a small fortune, it's an incredible amount of work) and doing things as cheaply as possible will bite you in the *** later when you start having issues with your own shoddy work and/or materials.

In my market every PM would charge more than your projected $350/month (which I already indicated is not reality) to manage two average size units in a duplex.This does not mean cash flow does not exist. 

I am looking into my first property and have been pre-approved for a renovation loan from a conventional lender.

Tell him that you are running out of funds and you hadn't planned on the extra 20% he's charging on each bill. 

This is straight from the CFPB website: "Additionally, for 60 days from the date your loan servicing transfers, your new servicer cannot charge you a late fee or treat the payment as late if you sent it to your previous servicer on time or within the applicable grace period."

Also a lot of the "deals" in the Subto community are highly overpriced and charging more than market price most of the time.IF you are still curious or would like to see, I am happy to connect with you, show you the Subto videos and trainings if you'd like from the courses.

Once you make some money - you will prove the concept and once you prove it, you will have a skill that you can charge a lot from and then use it to make more income and then invest in RE ;)