We are looking at larger 3BD/2BA for opportunities to convert extra rooms/finished basements/garages into extra beds/baths.We noticed if the rent is about 0.5% of the total property value, we will be about breakeven for pure cashflow at the following assumptions using BP's Rental Calculator (e.g., $500k property requires ~$2500 rental income to breakeven): 5% CAPEX, 5% vacancy, 5% repairs/maintenance, and 8% property management (we have something worked out with our property manager)Here are our questions:-Would ~$600/room be a competitive rate?

As well, being a single resident of my home, I am also going to try the house hacking method and rent out one or both of my extra rooms, depending on what ends up working out.  

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

If I don’t plan to have any financing, As I see it, I will need to put in extra money to get from the $388k to the total required $533k.

It will have verbage covering them due to delays beyond their control , extras , etc . 

The 10% you pay them will be offset by the extra revenue they assure you.

We are entering the game with our first rental (family member was supposed to move in but passed away, so we already are in possession of this property). It's a very small 850 sq ft, no basement SFH on a street of nea...

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

We are using a property management company with a local office on HHI, but they take 25% of our monthly rent plus a few extra fees.

So 15 years down the road when your property is worth $100k more you aren't going to be worried about the $20k extra that you paid upon purchase.