Seller was an estate sale, and after a couple counter offers came down to $154k and I kept my $3200 commission.

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We use a flat fee listing agent to save on standard seller commission which allows us the option to offer a higher commission to the buyer's agent

Mind you, the real estate agent profession is unregulated so you could in theory make a wholesaling profit as a real estate commission.

If you sell for $525k and it costs you $35k in “selling costs” (commissions, title insurance, concessions, etc.) then you need to buy $490k.

Also, I will be paying his commission because I want these units rented asap. 

You will then be out attorneys fees, TI, and leasing commissions.

All that for just a little commission is way cheaper than the 10-12% per month PM charges. 

You still have to run comps on everything, determine construction costs & estimate ARV, carry & commission costs, etc to make sure that deal in that market makes sense.To do that last portion better, I use Sales Comps and drilled-down market stats. 

I also have to pay him out my pocket an amount after closing, since the seller's  agent wouldn't share more than 1% of commission apparently.