If you aren't taking any profit on the performance other than a total of 5% for managing, then that seems better. 

I ran the numbers on my own and I got wildly different calculations.4 units are 2bd/1bth and rent for $5501 unit is 3 bd/2bth and rents for $675Total rents of $2875Owner pays some utilities at a cost of $8,800/ yearHere's what I got running it with the BP Rental Calculator (as self-managed):-Purchase price of $250,000 (I did estimate of $300k ARV price)-25% down: $62,500-Amount financed: $187,500-4.5% interest: P&I of $1,042.19-Capex: 7%: $201.25/mo-Maintenance/repairs: 7%: $201.25/mo-Vacancy 5%: $143.75/mo-Property taxes: $191.67/mo-Utilities: about $733.33 mo-Insurance: $220/moNOI of $14,209Income $2,875.00 - total monthly expenses (including debt service) $2,733.10 = $141.90/mo cash flow and 2.64% COC with a purchase cap rate of 5.68%.I told her I must be missing something, and she asked if I “had the NOI at $21,662?”

BUT, the positive would be:+ Catagory A neighborhood with stable renters+ Betting on property value will increase over 10+ yr given the neighborhood+ Turnkey rental, leases in place till 2018Would these positives balance out the lower CAP rate?

Totally agree with you. 

Totally discounting the immense cost & infrastructure a property management company needs to take on to operate is pretty silly no?

Totally excited and a little terrified at the same time. 

The typical total commission for a business sale is between 5-10%, but like real estate, there is no standard. 

-Totally understandable.

I think your best bet for something u can do right now would be to attend local metups in your area. network to other investors. try to develop a relationship with your local credit unions.

I totally understand your point.