I agree maintenance might be less immediately after a rehab, but after a couple years that will fade.

Although having to inspect beautiful beaches across the world is part of my investing routine.

In both scenarios with "shared" services, I would also give consideration to the shared responsibility & maintenance of the septic field , well, and equipment. 

Meanwhile, debt service, taxes, insurance, maintenance, and other expenses continue without pause.

Additionally, townhomes appreciate much slower than detached single family homes tend to.My personal advice would be to sell this property and then 1031 either into a better property near you that is low maintenance, or (probably better for you) invest the capital into a syndication or partnering with an active investor where you should get returns better than the stock market. 

They seem to have a good business model and one of the owners is an investor himself which is definitely a plus, but they charge a leasing fee (to find and get a qualified tenant into the property) equal to 1 month of rent, which comes out to an additional 4%-8% on top of the monthly 10% maintenance/management fee depending on how long the tenant stays.

While the units look to cash flow, for the next 5 years we plan on using that cash flow for any extra expenses over and above what we would forecast for the maintenance, repairs, and capex items for the properties since we already have W2 jobs we plan on keeping for at least the next 5 years. 

You want to keep your maintenance low by doing all repairs as early as possible.

Most people I’ve talked to who cohost & manage the property listings, bookings, small maintenance, cleanings, communication, trouble shoot, etc charge 20-25% mngmt fees.

It's turned out to be quite a good deal for us both, as they are paying all utilities, some maintenance, and have even contributed to some cap ex in exchange for a multi-year lease.