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Yearly turnover costs you probably a month each time, plus increased maintenance costs -- you're going to have to eg replace carpet, paint, and do other light maintenance a lot more often to keep a place in show condition. It also costs significantly increased human effort to manage. And you dramatically increase the chances you get a problem tenant. iow it's horribly expensive.

I'm skeptical of the quality of anyone who sets rent super high. If you do that, you will get difficult tenants. Setting the rent even 5%-ish below market -- $100 or so on a $2500 unit -- gives you the ability to be way more picky around your renters.

My experience: managed over 20 units for 5 years as a part-time gig.