One way that TK operators will get you to overpay is to sell a SFH based on a cap rate.

Many are well represented by sellers & turnkey operators here on BiggerPockets. 

To be honest, as a PM (take it for what it is worth to you), I don't see the PM fees as a major contributor in the 12%+ in additional operating costs, but I am not privy to your Owner statements.

These management companies have no shame and expensing cost to you, even though you operate on a smaller scale than the larger companies. ]

The challenges are unique but I think there is a lot of potential to pair local operators with investors located around the country. 

We ended up rehabbing it because we were going to live there for a few years, new floors, bathroom, vanities, lights, paint, cabinets, appliances, everything, (cost 26k)...... long story short we bought a larger home for our family of twins and two golden retrievers.  

It will give you a base value, and then the opportunity to add to that value with options - new roof, new appliances, etc).The third option is where the home is in a park/community.

If you're operating out of a partnership, you're going to be subject to self-employment taxes regardless of whether you take hourly income or a percentage of the profits. 

Store it for years...bad for appliances..... move to another unit?

They consider a company who buys the same as a company that originates and not only do you need the license but you are next exempt from the 3 year MLO operations manager.