It's much harder than it used to be to get the return which makes it worth the hassle (assuming that you are self-managing).

Save this post, because if you think you can find and manage Class C tenants from OOS, there's a VERY high chance you will end up being penny-wise, but dollar-foolish.Hopefully, you'll be able to recover from your mistakes & losses and won't have to sell at a loss.

Also I use my LLC to manage my 2 rental properties.

This is the first year I have professional management....all the prop.

It also felt like they are pulling from something that talks to the bigger management companies with larger MFH and lower-end SFH, whereas my area is mostly mom and pop operator with SFH and the BP calc wasn't differentiating.

This is the route I would take.The next step would be to have a conversation with your property manager about screening. 

What do you consider a fair management fee?

Depending on where you're pcsing to, you may be able to manage the property yourself or at least do a trial run.

I would love to connect with any investors or property managers in the area who are currently doing this!

He's contractually obligated to sell-my point is if he tries to break the contract, what then?