Not necessarily a scam, maybe someone trying to save fees. 

The 5% of the remaining balance late payment fee is a little much IMO. 

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.

The entry fee is 8% the existing loan carries an interest rate of 4.125%.

Unfortunately, I don't think Texas has reciprocity with any other states.You can get a referral fee.

-Management is low - you'll need at least 10% plus leasing costs - typically a month's rent for each lease-up, and sometimes a renewal fee as well-Insurance seems low-Are taxes accurate? 

The first few times, I didn't charge a late fee.

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 like to be busy and feel I am pretty handy so my wife and I did all the work ourselves for the exception of hiring out carpet install and dry wall for the bathroom. 

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.