I find it odd that this isn't a more standardized practice.

I was chatting with some of my lending buddies at big banks and they are all backing away from the CRE space including office because operating costs are increasing more quickly than rents.

Is this standard for most major property management companies.

There are always ways to increase the value of most homes, but that is also a crap shoot.

If it is something other than that, then yes, the engagement fee is absolutely standard.

Canton is not quite as bad, although they have increased annual fees and initial inspection requirements in the past few years that Akron never put in place. 

That then registers the property at a new “base rate” and your future rent increases all be “base rate” + Inflation as guided by the town.

Despite higher interest rate environment, there's reasonable probability inflation will still continue - thus increase hard asset valuation.

@Jadan WilliamsIf I were in your shoes, I’d start by clearly defining my investment goals and identifying target markets with strong job growth, population increases, and development potential.

Best way to understand this is research appraisal standards and means.