Most managers charge 7% - 10%, plus up to one months rent for placing tenants, plus add-ons for managing maintenance issues, inspections, rent court, and a few others I am sure I forgot.I wrote an article for BP some years ago on the topic of selecting property managers that might be of help. 

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.

Hi @Alon Attias I had a post/comment on a very similar thread elsewhere, but to add on the points above:Yes, you would have to register the TX LLC in FL as a "foreign entity" because it will be conducting business in FL (through owning the FL property).

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.

Account Closed What proforma market cap rates are you seeing after doing the value add on the properties you are buying or brought in the last 1 year in Everett?

Let me add one small point to the great ones above:  the longer you wait for rent to come in, the less likely you are to collect it.Our policy is simple and non-discriminatory (applies to ALL tenants):  if rent is not received by 10th of the month, a formal legal Notice To Pay or Quit is posted (that's for PA--your location may differ). 

I would add one caveat / example.If your real estate business will generate high taxable income, a self-directed IRA could be useful, particularly if you don't need the cash today.If you are looking at buy & hold real estate, a self-directed IRA may just add a lot of paperwork.  

https://www.act.com/they have a good system with a lot of addons you can get

To save the deal, it is important to have a number of professional investors to work in the event you current investor will not buy the note when it does not fit their underwriting requirements but let me add, only send quotes to 2 or three investors at once.

@Brandon Baker I have to add on the $150 that one person mentioned, He said it is "site visits to take an Evaluation Video, but not inspection."