I am not spending $40k on their next step, but this looked like a good investment ($1500 and a money back offer).

What I mean by that is that paying for leads that get sent to you just because you are paying for them is not smart scale right now, it costs too much for lukewarm.I was on Zillow Flex with my team of 50 for years and crushed it, but we had to kiss a lot of frogs at 35 percent referral fee.

For the past year, listening to podcasts, doing research, and debating when the right time to start this journey, we have decided to get over the fears and just focus on the analysis and dive right in.

If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee.

That highly depends on your pay structure.

Just like you, I leaned on BiggerPockets when I was starting out—super helpful!

Thanks, DavidSteve hit the nail on the head.

Do I need to have them sign a new lease with my company name on it not changing any of the terms or do I just inform them on how to pay the rent? 

Quote from @Bruce Schussler: A lot of Podcasts and Youtuber's say to cash-out refinance to keep rents balanced with payment; (PITI) then use those funds strategically to re-invest either in more real estate or just put into a high interest bearing account or money market account...Here's some of my thoughts and comparisons;Cash-out refinance with new loan so rents balance with payment:- The cash-out refinance is 100% tax free- The funds can be put into a money-market account off-setting a portion of the interest charge of loan- The loan balance gets eventually destroyed by inflation- The liquid cash eventually gets destroyed by inflation - The interest on the new loan can be deducted from the rent income- The refinance costs are 3-4% of the total- There is less equity in the property and LLC that can be attached in case of a lawsuit- The break-even on cash-out refinance with current interest costs on the new loan is around 12 years Vs.Paid-off property with positive cash flow:- The positive rent income is 100% taxable minus only depreciation and property tax- There is more equity in the property and LLC that can be attached with a lawsuit- The break even is not until after 12 years at today's interest rates- There is a rate risk in today's inflationary environment where interest rates on bonds keep rising*It appears to me that the cash-out refi is in the best interest for a property investor; (Dave Ramsey would strongly disagree!)

We do them, but they aren't cheap and your LTV will be lower that a HELOC on a primary residence.