Each month I'm charged for water which is just a number provided on my monthly bill which is taped to my door.  

It’s more application based and the schooling is a little cheaper! 

It's obviously  up to your father and his accountant to make the final call on the applicability but discounted rent aside, the occasional tenant gives strength to an argument of holding for appreciation. 

For example, if there's a  vacancy, you'll have to prioritize your schedule to fill it and have a process in place to screen applicants properly.

You then can choose from tons of applicants to try and find the best one.

It ask them the basics like you mentioned and things like salary, people on that would be living there, previous and current landlord, dogs/pet info etc.You don't have to login to get the application and take a look at it.I charge a $40 application fee before paying to run the check.

I understand hard money can close quickly but if I had the 25% I would just continue to use my portfolio lender who charges much lower rates. 

It’s only applicable to non owner occupied properties so I can see a residential appraiser being unfamiliar with it.

I'd either up the price on their purchase or charge a higher listing fee to cover the costs associated with the program.

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.