At the limits of what this society tolerates in membership fee avoidance are agents of the IRS.But what's far more interesting for me is what keeps the bulk of the population in line. not the tiny minority of criminals or major tax cheats.

Nothing exciting* Contacts - people that are in properties and or have been historically* Leases - term, amount, contact and the signed agreement* Files - closing docs, appraisals, insurance, etc. grouped by Property* Income - amount, date, property, attachments, category (rent vs lease option fee, etc)* Expenses - actual expenses, date, property, attachments (mortgage, capex, maintenance, turn, etc.)* Reserves - savings from each rent payment for future expensesIf you wanted to use more like a PM, you could set up an online form for tenants to input requests and include attachments and track maintenance through it.Hope that helps.PS - I still use Excel for projections/modeling

The main concerns are high relative NJ taxes and HOA fees.

Find one who likes speed of money more than deals that drag on, even if they get more interest/fees that way.

The PM fee was 7%, but worked out to around 8-8.5% after leasing fees.

I just always disclose upfront there is a broker fee no less than 1/2  and no more than 1 full installment of rent.As for commercial I am not sure.

Is there some hidden cost/drawback I'm not seeing?

@Ramsin Jacob sounds like you're now going from making a fee on the deals to being an equity owner.

One that can do double closings or assignment fees

High loan origination fee?