They handle the placement and outsource the monthly stuff to property management.  

(BTW - if they work at a large employer and you aren't asked to provide the applicant's authorization ... be suspicious ...)And now some employers use third party companies to outsource employment verification inquiries; one such company is called The Work Number, and they charge something like $20 to the person making the inquiry.

Then, once you've mastered that, and stabilized your portfolio to cash flow positive again, you can choose to outsource that function intelligently since you'll know what good management looks like, but the more likely outcome is that it will make more sense to continue doing it yourself.

But I see no reason at all to pay a PM to do what I'm doing.Repairs, collections (7 to 8 hours a month)Make ready (2 hours a month - once I do what a PM does and outsource all the work).Leasing - 5 to 8 hours to lease it up. 

My initial plan seems to resonate with what many said, higher % on the main fee and less "nickel and dimeing" I did want to use my own maintenance group so I can capture that revenue stream but be competitive in price with outsourced labor. 

That being said, I am the property manager and I can't leave the building unsupervised for long periods of time even if I manage to outsource alot of the busy work.

I live in the area and am going to be hands on with the whole thing whether I outsource our use an onsite manager for at least a year until I stabilize the property.

If they can afford it, outsource it and work with them.

There is a steep learning curve for tenant screening and landlording, may be easier to outsource.  

Plus it's not like the place needs major work to turn, just some cleaning, maybe the usual move their excess crap they left behind out (outsourced and paid for by their deposit).