I don't have personal experience with it, but when the app was first developed, I contacted the developer and put the app through a fairly robust test usage to see if it's something I would want to recommend to my clients (I'm a CPA).I think the app is great for its intended purpose and I do recommend it to my clients now (and have for about 18 months now). 

The terms and costs will depend on the property, your personal situation, the location, etc.

I have to usually explain that just because the owner made xyz does not the next person will or even care.

I would recommend targeting 30 day minimum rentals (Most associations are 90+), allowing 12+ rentals per year (most allow 1-3), and no in-person screening for tenants required.

Quote from @Mathew Chacko: Quote from @Na Person:  I too was a little skeptical of sending a large cash payment to an unlicensed entity (1031 facilitators do not need a license). 

PreREO I believe was run by the same person who owns AHP (American Home Preservation) - which has a lot of chatter on BP that you can search. 

I personally love the Cleveland market for its cash flow.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

I have personally invested in both turn-key and value-added properties. 

Being a curious person, I gained an interest in real estate investing due to other classmates being interested in real estate.