I am charging a little lower than market rent as I have definitely not put in a lot of money to rehab the place.

I encourage you to take charge of your future and get in the game.

Here are a list of all the ppl involved who will be paid in full for their services.Your Bank (wire charges)Your Agent and Broker 6%The SellerMortgage BrokerMortgage underwriterEscrow officersTermite companyHome inspection companyA slew of other maintenance/repair companies you nor I can think of right nowManagement company 3% of your 1st year rental income (to locate and verify tenant)Your tenant (although not paid they will receive full value for their rental payment)Answer: You are taking the risk.The list of services above are taking no risk (apart from the mortgage underwriter), yet they all receive compensation.Why wouldn't you?

Its not unheard of for an agent to request the buyer cover the difference between the commission stated in the MLS and what they want to get paid, however in my opinion, only agents or teams who really provide a high level of service deserve to charge extra to a buyer.  

If you can get in to talk to them try and get some pictures to document the condition in case they decide to trash the place you can file vandalism charges against them. 

I'm not sure this would work as our electric meters are on a rate schedule that I do not believe can be legally submetered.Take the previous years utility costs from all the meters and charge it by sqft.

one point garbage always was included in Chicago property tax bill but is changing to be charged on the water bill.  

NO CHARGE!

Charge them a late fee.

This would leave me with 225K of equity in the house and I would possibly be positive assuming the monthly payment on the HELOC is 2k to 2.5k a month since I charge 2.8k in rent.My goal is to keep this as rental property since I have my aunt and her family living in the house and I know they will be there for quite some time.