Quote from @Sharma Parth: Quote from @Jacob Sherman: are they selling the rent ready properties or consultants guiding you start to finish in the process  rent ready properties. they will take distressed properties > fix them > get you  section 8 tenant > and also offer management for you Sounds like a no brainer if the  numbers are right .

I realize I don't have the actual NOI, but that price sounds super high for the gross income you're stating in your narrative.

What you describe sounds a little like a BRRRR (Buy Rehab Rent Refinance Repeat). 

First it sounds like this may be a "heavy rehab". 

I know he will be able to give you the proper guidance that you need in order to make a sound decision.

I’m a first-timer, so bear with me if I sound a little clueless – I’m still figuring it all out.Here’s the scoop: I’m looking to purchase a long-term rental property within the $300-350k budget range.

It sounds like they just sent you to a lender and builder and maybe they got a piece from each?

It sounds like a few people on this thread don't really understand how PMC's operate or why they may charge extra fees.

Please let me know if this sounds correct.

And sounds like a good set of options you are looking at.Here's some data and visualization on recent trends in some of the markets mentioned here.