The contractor usually provides the customer with a contract 

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Those usually come with a higher rate so I would ask Guild about an escrow holdback.

However down the line if we fully converted the garage and got the extra bedroom up to code we could get more, especially through section 8.

Not sure your area that you're investing in, but the perfect BRRRR are kind of hard to come by now in the recent years.. so have the expectations to leave some type of money in the deal..Big thing that I've ran into and I've seen other investors run into is running out of money doing the BRRRR.. as some or most times you have to leave a bit of money in the deal, folks usually run out of cash to continue to do deals.. especially in the recent years..But good news is.. as you're holding and cashflowing on the deals, there is always opportunity to recapture the equity, not to mention tax benefits etc..I also see some pitfalls in investors getting desparate for deals, so they get lenient on their number etc.. as they do i see some get backwards on some deals...

So in most cases operating cash flow will actually decrease because you're servicing more debt (this is offset by the cash out refi so it's still usually a net gain). 

Renting rooms usually helps you have a higher occupancy but if all rooms aren't rented you net less money.

I want to get him to understand if our monthly payment is too high, we don't have the extra cash lying around to fix up the other unit and get it to market rents.

There are less lenders who do this and the rate and fees will usually be higher. 

The listing says there's an unpermitted 2 bed 1 bath garage conversion, so I'd be extra careful about making certain it's vacant before closing.