I have to pay a monthly fee even if I don't do any tenant screening, but the platform also allows me to collect rent online and I don't believe they actually hold the money, unlike some other companies that have held, (and lost!)

UPDATE.I got an unsecured personal loan with a very high interest rate(18%) and paid over $1000 in fees.

I’m in a 506(b) on the GP Side right now & other than the ability to advertise under 506(c), one reason one wouldn't go with 506(b) and accept Sophisticated investors is increased liability.We feel comfortable and run a tight ship so we’re not too concerned; However, our SEC attorney has drafted all docs (operating agreement, subscription, & PPM) and has encouraged us to have the PPM be a more robust version because we are allowing sophisticated investors to colloberate. 

The residents we put into our properties pays our escrow company all the mortgage and all our monthly fees, including the monthly profit to the seller and our monthly profit check.

What are the average annual fees to maintain the license?

You might be better off paying more in fees to get a cash out refinance so you can fix your rate and term to match a long term investment approach.Buying in solid cash flow markets could be a good option if you can find the right team.  

If I were in your shoes, I would HELOC or refi to take some cash out to avoid cap gains and other fees associated with selling. 

If net cashflow is $620 and includes HOA fees, and includes 10% estimate repairs and maintenance, then okay.

Lots of dumpsters and dump fees 

Sale Price: $80KFinders fee: $$10KRepair Cost: $15KTotal expenses: $105KARV(based on comps): $160K - $215KI would really like to do this deal.