Once the renovations are complete, the property might appeal to owner-occupants or investors, and you could potentially recoup your costs and free up capital for a more profitable deal.

Just consider the rent you saved buying the place as part of the profit plus any/all the write offs you’ve had for 3 years. 

either by increasing direct profits or creating growth or both.

This would be our first flip together, splitting cost and profit 50/50 with a hard money loan for what we cannot make up on our own.

You will be 100% leveraged and you are paying top dollar, because the turnkey company needs to make a profit as well.Real estate is not for everyone and it can make your life miserable.

When I sold my properties, the price did not increase much (though there was still a slight profit, couple with the rental I had over the years and currency gain (bought when USD was low and sold when USD was high).

Would obviously have preferred to use a third party but this accomplishes exactly what I need - a birds eye view of the profitability each month without have to re-enter operational and tenant data into my own system when the property manager is already tracking this information. 

The complex became profitable just about when the package ran out.  

While it's exciting to cash in on a successful investment, the looming capital gains taxes can significantly cut into your profits.

Sold it recently to make a nice profit.