If there's fire, the tenants would call the fire dept; anything broken would be handled by a call to a service company or handyman. 

When we get a tenant renewal, there is a small commission there and that is split between the company and the Portfolio Manager handling the home. 

And if you intend to occupy one of the units, 100% of rents collected may be used to offset mortgage payment, thus reducing your DTIFannie Mae Selling Guide - B3-3.1-08: Rental Income (02/28/2017)[If a borrower has a history of renting the subject or another property, generally the rental income will be reported on IRS Form 1040, Schedule E of the borrower’s personal tax returns or on Rental Real Estate Income and Expenses of a Partnership or an S Corporation form (IRS Form 8825) of a business tax return.

The two best ways I’ve found to fatten the bottom line is via fees or reduced turnover or repair cost.Pet rent, lawn care fees, and things that breakdown due to tenant usage are my go to items.Number of bedrooms, extra features are only a selling point.

I would expect that it won’t get reduced.

I would handle the renovation, the marketing, the screening, and the property management -they would have to do nothingThe plan is to refinance into a permanent loan after the renovation is completed and when I refinance I am going to put it into an LLC.

@Luis Escobar, If you haven't engaged a QI to handle that sale as a 1031 it's a moot point. 

Since you've already taken title it won't work.An attempt to create mid line entities right now unless handled at arms length for retail would probably result in a step transaction. 

If you can reduce your down payment to 20%, maybe that increases your return to 12%.

So some agents actually will have one of their agent friends represent them to reduce their liability.