Hi Becca,PM charges 8% and I tried protesting taxes, didn't work.As far as renting rooms,that is something I'd consider if the current tenants move out.They've been reliable for many years and I wouldn't feel good about asking them to leave. 

Going back to the OP, I'm not sure what fees NY charges for LLCs and how many properties or businesses he has but I think these "asset protection" companies overcharge people. 

If you are just downloading data room info from brokerage sites and plugging into a model, you are refining your skills on the "act", which is certainly necessary and helps make the process faster.  

I was hoping that since it's not a residential unit, that the process might be different and hopefully faster for just a utility space. 

The rent from the other units will allow your to purchase a more expensive property than you could on your own, which could help you build the value of your portfolio (and equity) faster. 

I would never form an entity with them when I can do it online with a firm that charges a fraction of what they charge).

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

While fees are pretty similar between custodians, read the fee schedules carefully as there are sometimes others fees charged that aren't readily discernible.Good luck and happy holidays!

Im only charging $700 but I could easily get $1000 maybe $1100 considering what other places are going for and my place is nicer, and is in a quieter neighborhood, and has a yard, etc.

Wonder what they charge developers to access their capital resources.