I'm in the process of buying my first piece of real estate, and I'm aware that an amortization schedule/ calculator helps me find out how many years I can shorten my mortgage by making extra payments on the principal.

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

Also drive around your city and look for new builds, talk to the crews and contractors there ask them if they know anyone.. if you have a couple extra coffee's in the truck I'm sure they will take 5 minutes to have a cup and answer a couple questions.

The extra functionality that you are looking for is found by using Monte Carlo simulation on some of the inputs.

Another assumption would be that I already have a couple investment properties that are cash flowing well to give me some extra income for future purchases and that I am 24 years old with my whole life ahead of me.

As far as your costs, don't forgot about permit costs and costs for an architect to draw up plans (this might be in your estimate above).

I am reviewing a property management agreement and came across this clause RE: Indemnification that seems too broad:INDEMNIFICATION:(a) The Owner shall indemnify, defend and save Agent harmless from all suits and/or other legal proceedings whatsoever and cost incurred therefrom in connection with the management of the Property and from liability for injuries suffered by any employee or other person whomsoever, except in cases of willful misconduct or gross negligence on the part of Agent or its employees, (b) The Owner shall indemnify and hold harmless the Agent from and against any costs, loss, expense or damage (including attorney's fees) suffered or incurred by the Agent arising out of or related to the enforcement of this Agreement arising out of a default or other breach by the Owner, the management, operation, improvement, alteration and leasing of the Property, including all other activities arising out of or related to Agent's duties under this Agreement or as a result of any act or thing done or permitted by the Agent or its agents or employees; provided, however, that such indemnification shall not apply to any such cost, loss, expense or damage to the extent that the same relates to or as a result of conduct by Agent which constitutes willful and wanton misconduct.It seems like if one of the Property Manager workers (aka Agent) slips and hurts himself while cleaning the floor the "Owner" is then responsible. 

My company doesn't charge anything extra for maintenance, and I generally think that any company that has little extra fees like that either isn't working hard enough on their core offering to pay the bills, or is trying to get one by on investors.

It takes a matter of 4-6 weeks to get permits.

Again, a few extra points annually, but many are interest only for 12-24 months while you stabilize and lease-up the property, season, and refi on to permanent commercial financing.