then go with hard money......here is what i see conventional mortgage from a bank 5% for 25 years closing costs around 1-2 points. 

We started with rental properties using the 20% down conventional mortgage and after this we will try hard money for a flip.

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.

Lastly, double check that your unit isn’t overpriced...might be worth it to price it a bit under what the competition is charging just to get folks in the door before winter hits and increase interest?

The property management activities will not be a service to charge me for but an obligation of their joint venture agreement with me.

They charged 10%, which is common in my area.

@James Wise I’ve seen friends comment on local rental ads about how greedy the landlords are and how unfair it is for them to charge what they do.

Why is it standard practice to charge origination fees/points upfront on the loan?

There are conventional 3% loans, but your mortgage broker will have their commissions taken back if you sell prior to 6 months. 

I will be using a friends money for the down payment on the home going through a bank to acquire a conventional loan.