@Orlando Johnson- If you were going with 6% real estate agent fees the $12,500 number is incorrect. 

You'll want to look at their reviews, how they safeguard your funds, understand what their fees are, and how responsive they will be to your questions (do they work 9-5 only). 

If its a direct lender, you might be able to pull off a 10 day close if its a smaller lender that has very quick underwriting turn times.

As far as whether to approach them with or without an agent - approaching them directly without an agent can save the seller probably 2.5-3% of fees, which give you some room to negotiate on the price, but you need to be confident that you are capable of evaluating the property value, estimating on the amount of work that is needed, knowing how to negotiate/ structure the deal, and navigating the closing process.

Pull off the thin veil you discover they’re a disguised insurance salesman.  

Lots of folks are pulling out cash based on the appraised value for their next projects and holding for a few years to benefit from appreciation. 

It likely is out of date as to cost as this info is quite old (my guess is 5 years but it could be longer):- Rent Recovery Service: offers flat fee service starting at $20. 3 letters start at $30.

Spend a year learning and going to meetups before you fork over a $50-$100k franchise fee and half of your profits and don't even know what you are doing.

These platforms typically have billing policies where you pay a per unit fee per month to the software and you get regular updates and support each month.There are a number of low-cost platforms available that are able to offer you a lower price by passing along some of the costs to your tenants (payment processing fees, applications, tenant screening, etc).

I guess they think these investors are accredited so a fee structure is a good model.