I lived in a 2-family house for one year on conventional financing as my primary residence. 

We would love to do some analysis, due diligence and provide you some feedback on your portfolio free of charge. 

Also, we believe we can do a conventional loan and pay the 20% down payment but the renovation cost is what we will have trouble coming up with.

Can MFG. homes get regular or conventional financing.

If you have written proof that you were only obligated until August 30th, then that is all they can charge you for.It sounds like they are charging you for the extra weeks because you didn't turn in the keys.

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.

I may buy a property and plan to fix it up within one year but the location city may say, "no way", " we will allow you maximum 6 months or we will order the building torn down and charge you for it".

Since the situation is different now, I'd suggest charging her your normal pet fee, and make everything non-refundable.   

For example, if a tenant calls and says that the there is no hot water in the house, for the PM to get a handyman to fix the issue if he can instead of just calling a plumber and charging $300 for something simple. 

Like @Brian Garrett said - most value add property is overpriced (charge 6-7% on the PROFORMA rents) but there are a few decent deals out there.