I have just got a lead form a broker, in Stockton, $340K asking price, four units, Gross rental income $2,600.00/m.

Just out of curiosity, in your pro forma, how much did you budget to compensate them.There are companies that will do it and I would suggest to find a company that is local, otherwise you will be paying for someone.

I better just make a list, and call 2-3 a day and try to form a relationship.What did you “bring to the plate” so that banks took you serious?

This is usually similar to the owner's pro forma. 

7) Have you developed pro forma financial statements and if so,what are you assumptions based on?

@James Heacock Here are the key things to look for in a turn key company and what to avoid.If you're going to go the turn key route, in general, the ones to avoid are the ones that: Don't allow financing or a finance contingency (it can be a good indication they are selling above market value)Don't allow for your own independent property inspectionAre not realistic with their pro forma's (i.e. they don't include vacancy or maintenance projections or use unrealistically low vacancy factors)Require you to pay for any renovation upfrontSell only in cheap. low end neighborhoodsDon't accurately represent the neighborhood/property classificationDon't have consistent rehab standards for all propertiesDon't provide a scope of work for the propertyCan't provide references of repeat investorsRequire you to close before a tenant is in place

We did form a condo association and maintained a joint checking account (we had a joint account from the time we bought the building. 

I'm currently reviewing a pro forma for a house on Lutz Avenue (45420) and so far, the numbers work.

And don't trust any pro forma statements they make, get the actual paperwork for rents received, operating expenses, etc.

Originally posted by Account Closed:Turnkey out of state are a great option if you dont care about making money.Just go over their pro forma-its like they never heard of the word EXPENSES.Ask yourself why in staters arent their target market.What's your basis for these?