A couple areas that have stuck out in the comments of those who have turnkeyed; hire your own inspector and be very diligent in reviewing the specific tenant placement policies that the company uses.  

I'm sure the writer wasn't trying to be disingenuous, but since the original question was posed by @Brookshire Harris, who I presume is new to all these systems, it's important that we are precise in our comments.

Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.

Generally 10% is a good starting point, then add some for placement fee's.In my recent experience I have had the banks asking for 25% or 30% down.  

You should try adjusting your arrangement with them to incentivize doing a better job with tenant placement.

All of the deals I've seen are via a Private Placement Memorandum (PPM), most using the SEC Reg D 506(b) exception. 

Placement fees will be about your largest expense,  so you're not really 'saving' much self-managing if you're having an agent do that.I'm all about DIY, but OOS would have me finding the best PM in the area. 

Dealing with tenants and property managers can be a headache, and they tend to think you're some rich guy in Hawaii and overcharge you for property management fees and repairs.Eventually, I sold all my rentals, especially when I became an accredited investor, and started getting into syndications and private placements for the sake of legal liability.

Or, if the guest house has it's own subpanel for electrical distribution, install a submeter and bill them for precisely what they are using.

At Guardian Asset Management, we charge 8% and half of first month rent as a placement fee.