On the other hand it may cost you money if negations and reading people are not in your skill set.

There should be a set of guidelines for how they deal with tenants and day to day management.

Unsubscribing from the podcasts in GPM, then going to settings/apps/Google Play Music.

Can i charge 150$ as an application fee but set rents at 10% lower than market to get the best possible tenant and profit off the rest?

You can do this almost "tax free" if you set it up correctly, or you can lose 50% to taxes if you don't.

I am getting conflicting information from people and am looking to set the record straight on this topic.  

Honestly, I don't see much of a reason to go and start your own brokerage unless your goal is to build out your business as a real estate mega agent, recruit other agents, set up your own systems, etc.

I think you're struggling because you haven't set up your goals yet.

I have an Excel spreadsheet set up to put in all the information.

I would issue a notice of termination (in accordance with your local L/T laws) the day after the closing and start fresh with your own screened tenant.Otherwise, you're setting yourself up to be very frustrated, I'm afraid.