What is the ideal annual property management and vacancy rate?

[Ndy Onyido]

BP Nation,

I am considering picking up an investment property from a turnkey company. Turnkey, because I am an out of town investor. However, the terms include 10% management and vacancy rate, which I find absurd. Does this depend on the location or do we have a standard rate for all?.

If an assumption of a vacancy rate is not met ( for instance in a year you have 100% occupancy?, who gets the budgeted amount for vacancy?

what else should I look out for in the contract agreement?

Thanks all