They dont have a clue what rent should be but there are saving 8% per month, even if it costs them 10-15% and they have to do all the work. 

That much will cost them probably $25,000 in legal fees in a simple case.

An umbrella policy and maxing out the available liability coverage of the LL policy, usually $500k per asset. 

Typically, these "zero down" programs take a HUGE fee upfront (12-15%), and then you hold the 5-6% interest for 20 years.

Hello,Responding to your request to property management recommendations.The Clark Group http://www.clarkgrouppm.com/Real Property Management Solutions, Dan Hayeshttps://www.realpmsolutions.com/Peace by Lease6501 S Macadam Ave Ste A, Portland, OR 97239https://www.peacebylease.comThe going rate in the Portland metro ranges from 8-14% of the gross rent, and the lease up fee (new tenant placement) ranges from ½ to a full month's rent. 

It's net income is a loss due to high turnover costs, management fees, etc. 

When factoring in additional costs such as maintenance, property management fees (if you do not opt for a property manager, and you should), and potential vacancy periods, the financial burden could increase.Check this out: If you're breaking even on rent at $1,600, any additional expenses or vacancies directly impact your pocket and mental health.

moving it to an LLC will not do much for you in the way of asset protection OR taxes (double check that with a cpa, everyone's tax picture is different). most people lean towards the LLC thing for legal protection, but a single-member LLC is a thin veil that's easily pierced. you'd be paying LLC fees & paying another LLC tax return prep fee, for what i'd say is nothing. if you do want to transfer the deed to an LLC anyway, you'd do a 'quit claim deed' with a title company or real estate attorney. if the mortgage lender ever says something you'll just give them proof that it's a single-member LLC and the one member is you (the original borrower). 

And if I don't find a property through agent, is there a flat fee I'm supposed to pay. 

Best regards, Jackie What do you make per year?