@Tanya MaslachYou do not necessarily need to have an Ohio based entity to purchase and operate rentals in Ohio, HOWEVER, many lenders are beginning to require that either an entity based in the same state or a foreign entity is registered in that state in order to obtain a loan approval. 

Their book is super helpful, and so far I'm guilty of at least half of all the newbie mistakes they talk about, so I expect my rental operation to improve as I implement their advice over the course of next lease term.

And when people get tunnel vision for lowest $ down, they tend to not give attention to the revenue generation of it, the operations, and that's a VERY dangerous combination of high leverage and not so-good revenue. 

Turnkey is generally a passive investment strategy, where you just buy from an operator and turn it over to them to manage.

We operate in a broken system that is ripe for abuse and fails to protect us.

Those who run such a failed operation surely will have significantly degraded the assets and operations as well.

Hey Becky,When you sell the property, the LLC will still technically own the property until it is formally restructured, so you will need to amend the LLC’s operating agreement and update its ownership structure to reflect the change, ensuring the absent partner’s interests are properly dissolved, and taxes are handled accordingly.

The operator's track record may not align with your goals (you are long term cash flow play, they are sell and redeploy, or vice versa).  

Passive investing takes time up front to educate yourself, find operators and deals - but after you invest, you have limited obligations.  

No, but I don't operate below B class.