I'd imagine you've already lost at least two years worth of management fees in carrying costs alone.

The new buyer puts down 10% as the option fee, ($50,000 fee to our buyer) in this case, and we make the rate 10% to the new buyer for the monthly payment. 

I'll settle for a variation of this and give a little, but I simply pass on PMs who hand me a term sheet with 10+ different types of fees.

So, the tenant covers just about every operating expense from maintenance, property taxes, and management fees. 

All you had to do was drive to the house, take pictures, sign a contract and then assign the contract to a buyer for a fee.

This dragged the process out even longer, making it both exhausting and expensive—I’ve already spent nearly $10,000 in legal fees.

They don't allow auto payments or automatically add late fees, and tenants would have the option to pull their payment back, which is not ideal.

Landlords mistakenly ASSUME all PMCs offer the exact same services and operate the exact same way, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services.This also leads them to ASSUME simpler is better when it comes to management contracts.

I would push for very low or no money down but having a Realtor that needs to have their fee paid it may still not work.Look up the owner if possible through truepeoplesearch.com and call them up directly.

Especially after capex, vacancy, management fees, etc etc.