Jason, As stated, it depends on what "Normal" practice is in your area, but that is something that can be negotiated with. i would talk to a few PM companies as @Danny Randazzo suggested, to find out rates and to find one that you feel comfortable dealing with.

I receive postcards and mailers from realtors offering 1% on the listing side quite often.I've also had realtors offer to kick me back part of their commission on the buying side as well.So I know this is starting to become a fairly common practice at least in my area.

Paying off the debt might improve your score for the next one.

Standup comedy, football, scifi, video games, hiking and astronomy are some of my favorite things; I also dabble a little in diy handy man space, everything from home repairs and improvement to automotive repairs and anything technology related. 

Cap rate gives you your cash on cash return if you pay 100% cash.Generally the reason you don't want to pay 100% cash is to improve your cash on cash return.

We are looking for a company who could maintain the loan and report it to credit bureaus to help improve their credit scores. 

Maybe you can make some improvements and redo out in a year or two. 

Nonetheless, good practice and experience. 

@Mckinley baggett My standard practice is to wait 6 months to get the cash out refi  per lender seasoning requirements so I could get the unit appraised and take out the ARV vs. only the initial price.

Today I was at the property dropping off some materials, and the tenant in the unit we have done little improvement to approached me.