. - In the event that you do get a deal, that you do not violate the intent or letter of an increasing number of anti-wholesaling laws, and that you actually receive an assignment fee, you will walk away thinking that your role is over.

They don't mention anything about paying payroll taxes, workers comp, complying with laws, etcReal estate agents can have a team around them where they do have employees if they have admin/support or marketing team.Regardless, if you want to interchange small business for commissioned sales people in my post you can.My post was mentioning that service providers in the real estate space are incentivized by their advertisements as it will increase their annual income.

. $8k cash flow (this will increase over time because you are in an appreciation market). $6k principal pay down (based on your current loan). $20k appreciation (based on 3% which is conservative, 4-5% is the historical average).

The increased cash flow and the ability to pay down the loan more quickly are the biggest draws for me.Am I underestimating the time commitment of managing a multifamily property?

Cash flow has been hampered by an increase in cost of ownership recently, specifically insurance. 

I'd have to do some research on the local market to know if this would meaningfully increase the value and the appeal as a rental in the long-term.

Keep in mind, adding "cute", and upgrading things won't increase your rent or ARV past what the market in that area will tell you is the max. 

Top 3 reasons owners hire PMCs:1) No time to manage correctly2) No time to learn how to manage correcly: laws, documents, processes, etc.3) They're too nice and need someone to "save them from themselves"A good PMC can usually earn their fees by better managing the property/tenant than the owner, thereby:1) Increasing owners net profit2) Decreasing owner's time commitment, stress, headaches, etc.No matter what though, you should always plan to commit a couple of hours a month to manage your PMC.

But once I got the bills, I increased the rent with the tenant's approval and signed an addendum to the lease stating the rent increase would be X and the owner would take over utilities.

This would increase the benefit to where the fee would not be so outrageous that it would hinder the investment.