Turnkey or value add?

[Matt Nettles]

I am still somewhat new to the MF world..

I’ve been presented an opportunity to purchase a built in 2000 well established 28 unit complex with 100% occupancy, waiting list, the whole 9 yards... however there is a small value add with rents being below market.

I ask because since I began to learn the ropes of MF, I’ve seen nothing but value add to be the best option, that’s what I seem to understand the most, and this doesn’t seem to be a great value add deal.

Wanted to get some expert or more knowledgeable

Opinions on the potential and maybe pros/cons to both strategies

Any help would be greatly appreciated