While I have managers handling the daily operations, I still oversee everything remotely.

If the market rents do not cover the mortgage, you may do a no ratio DSCR for a higher rate/reduced LTV  Which most likely the 1007 will be nowhere near the revenue generated by a PadSplit operation.

Would any of you recommend a certain site that specifically handles formation of LLC for rental property?  

If you go that route, ensure to use a Qualified Intermediary to handle the sale/purchase otherwise there will be no 1031 exchange. 

You will get killed on the C and D properties which are usually the majority of most properties handled by a metro PM company. 

Do you use any tools or services to automate the process, or is it something you manually handle?

It’s too much human waste for the lot to handle.  

They have offices in many states and handle thousands of rentals.

A more realistic expectation is 24 hours which will ensure we can arrange any repairs or corrections with a team, handle it in person, etc. be curious how this plays out as I worked for local developer for a while and developed several properties in Alexandria (Specifically old town) and while the city is challenging like any city - they were mostly realistic.

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?