When I run the numbers I seem to get expenses (including vacancy) that is usually 55-60% of gross rents.  

It's too expensive. 

I offer to fund a flip of there house, they would get the number they were seeking for their house plus a percentage of whatever the profits are after all expenses, holding costs, realtor fees etc..have been paid.

However, I would recommend talking to a qualified professional to avoid expensive charges down the road.

Although I did not retain her because I do not have enough properties to justify PM expenses, I definitely feel her knowledge in PM and drive for results are outstanding.

Rationalization is the most expensive word in the REI vocabulary.  

Again, the point here is more that my current market is extremely hot and expensive, so I'm looking to move to another market. 

These properties cash flow using a $300/unit per month cap expense and 5% vacancy (our vacancy rate is less than this) and 5% maintenance expense.

As for Northern Michigan, the Traverse City area has become expensive and tourist-heavy. 

I am joining BiggerPockets to obtain and further enhance my knowledge regarding Real Estate practices as well as meeting new faces that I can hope to provide assistance of my own as well as gain knowledge from them and their experiences.My expertise includes being involved in Public Relations and having worked in the Public Sector for many years.