Not many landlords buy their rentals this way. although with all the guru training many are trying and we will see how it all works out.it takes sales skill to talk people into deeding you their home.. this is a highly charged emotional situation..

We also use Rental Guardian and add the charge to each booking so essentially the guest is paying for their own damage insurance.

Keep in mind, you are NOT in charge!  

I'd also find out who handles the listings and what they charge to do it.

I tried to reply individually but I guess it thinks you're a bot when you post too frequently in a short time period so I got locked out of my account lol

Rules for contractors NEVER use your money to fund a customers project ( unless you hold first lien position and charge interest )If the money stops , the work stops .Put everything in writing .

If you don’t mind moving somewhat frequently this is a great way to start your portfolio.

When we review what is RICO charges.... 

Investigate what (if any) additional fees that they charge for handling evictions, and find out whether they go to small-claims themselves, or hire an attorney.

I would reach out to experienced PMs, landlords, and realtors in your area to see what others are charging.