However, if you feel like you 'should' do it and aren't really psyched about it, then my advice is don't do it.

You should actually be able to live in it for a period of time to satisfy any owner occupancy requirements your lender will put on the mortgage loan (Usually one or two years) and save your money you collect from renters.

Generally, what services are included in this fee apart from tenant communication, rent collection, and maintenance coordination?

At $50 a month, which is very inexpensive for a dog over 40 pounds, you would have collected an additional $1,800 towards repairs.

Hi Fan - we manage properties in Bangor and have great occupancy and collection rates. 

Rental licenses, property taxes, business income taxes, refuse collection fees, water bills...

Personally if in your shoes I would rather make him an equity partner vs fee based, or pay on performance such as 10% of rents collected, something that is win-win and loose-loose based.

This entity will sign leases, collect rents and pays property taxes, utilities, repairs on behalf of the property LLC.

How are you doing with rent collections this month?

Let's say you rent the cheapest unit and can collect about $2250 per month for the other two units.