Assuming it's not one on going nightmare and I like the work the way I imagine I might, I have another financial event in 4 years that will leave me with a healthy chunk of of capital to make a bigger move.  

Turnkey also means there is ongoing property management in place.

I cash flow mine, so as long as I can get $300 a month or better ongoing cash flow, I'm okay with taking out some cash as often as I can maintain that.

& connected to main house by a  shared roof and connected breezewayLocated beneath Garage Appt #1Only 1 big living/bedroom with full bath and kitchenGarage Appt #2Separated from Main House completelyDedicated 3 car garage for parking for occupant...also included washer/dryer in garage for occupant's use only"Boat Shed"  (carport with enclosed storage) on slab for occupant's useALL (3) properties are centered around an in-ground pool w/ hot tub.I'm needing to live in 1 of the buildings while my job is on-going for about 12-16 months.

If he was charged with packing a Saturday Night Special, not so much.You have potential on-going substance abuse issues.

I am looking in the Philly area for some investors, new to this as well, and they are planning on going the tax lien route.  

I should be able to get it down to 10% of rents collected with a professional management company; however, I'm assuming since this is my first property there will be some headaches with coaching them how I'd like to approach ongoing communications, repairs, etc.

We spent about $1500 in December out of our cash flow to finish up some deferred maintenance items found during our initial inspection, so that weighed on our NOI a little bit but shouldn't be an ongoing expenditure. 

. - Ongoing Repairs - These can be highly variable, but in my portfolio, long term, I was spending $150-200 per unit per month.With about 2 hours of work you can be sure the numbers are spot on. 

The benefits I see from the FHA loan are the ability to refinance after 1 year to help acquire more properties, and not having to deal with the previous owner on an ongoing basis.