Common deductible expenses include mortgage interest, property management fees, repairs, and even travel expenses related to property management.

For now, it Looks like your roommate/tenant can cover half of your mortgage (plus hoa fees). 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

And I don’t know if they’ve ever given up a power they took or a fee they’ve imposed. 

You will pay for the higher risk with higher rates and origination fees but if the deal makes sense then congrats.

Mortgage rates at 7% 2. 25% down3. 10% of current rents budgeted for capex, monthly repairs and maintenance and property management fees. 

Like deferred maintenance, (bad roof, worn out water heater/AC Unit, warped flooring, water damage) etc, unpaid utilities,  unpaid taxes, a second loan, unpaid HOA fees, a bad pool, bad reputation, sometimes squatters, sometimes they were drug houses, and so on.

Normally, as @Jaycee Greene suggests, you make a management fee plus a split of cashflow with investors (oversimplified explanation).

-OOS investors rely on service providers like agents and PMs and think they're guaranteed an outcome instead of just paying a fee for a service.  

There are consulting companies who do this (for a fee) and i can also share some contacts if you need some.