The PM should have written authority to sign on the owner's behalf. 

If it's not included in the rent, many companies charge a flat fee to monitor & pay utilities.2) Assuming you're referring to resident benefit packages, renters insurance, and other charges for services the PMC offers to tenants. 

Welcome to the group! 

When there's tenants already occupying the property, there's often times different leases that were signed among the tenants.Additionally, renting by room usually sees higher tenant turnover which in turn causes more work for the PM.Other challenges to consider:- Disputes/conflicts among tenants (different personalities if a tenant doesn't know the others prior)- Occupancy limits- Splitting utilities (what if someone uses more water?)

The other option would be going to local investor meetups and asking those who attend for good references. 

Would it make sense to invest in improving my home, then refinance with a bank to extract the created equity, and then use that money to purchase a rental property?

I had another person try to bargain me down to $1700/month, and said she was moving out of her dad's house and so needed room to store boxes in the extra bedrooms. 

It might be a value-add for prospective tenants to know there is a mechanism in place to leave early.

What will it cost to buy the property, how much will it cost to rehab (to include how long it will take), and what will it realistically sell for?  

conventional How did you add value to the deal?