There are going to be some very small pockets you'd probably want to avoid, but even those aren't that bad compared to other cities' bad areas.

Many investors choose a profit-sharing model for true equity partners, often splitting profits 50/50 or based on the level of their contribution to the deal, but ensure everything is clearly defined in writing to avoid misunderstanding/miscommunication. 

You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.4.

.✅ Any home built before 1980, likely has cast iron or clay sewer lines which will deteriorate over time.These issues can be avoided.

I do have them sync their bank accounts and credit cards to eliminate human error in entering items, and ask them to avoid putting personal expenses on those accounts.

But even more important is the knowledge of where to avoid at all costs since the timeline is too long to work. 

Remember, no system is perfect, so avoid the temptation of constantly chasing after the next shiny object.

We are hoping to avoid doing any sort of partnership and maintain a single member LLC, but searching online hasn't been fruitful.

Avoid rushing into a distant market without proper research or a trusted team—it’s a recipe for setbacks.

It also provides the opportunity for both appreciation and cash flow, especially in markets like Birmingham, AL, where value-add strategies can thrive.So as others have said, avoid turnkey if you’re looking to build real wealth.