The meeting starts at 6:00 PM.You can arrive at any time but from 6:00 - 6:45 PM they'll have a Q&A which is very helpful for newbies.

What are the real returns you have seen in your own turnkeys in those areas in the past 4-5 years?

It's taken about 45 minutes minimum to add each new property we acquire and older ones longer.

I've got all the plans and proposals ready, and we're looking at about a 2 month turnaround to complete construction and 30 day max to get under contract w/ aggressive pricing, w/ 45 days to close.

For those I didn't hear back from, I follow up every 45 days.  

I just had a property turn over and followed this procedure for the showings:I advertise the property and handle all calls, emails, texts on it and set up viewing appointments (I group them all within 30-45 minutes on one day)The current tenants show the property to prospective rentersWhen someone applies, they email or fax in the application and pay the application fee via PayPal (although I am now trying out Cozy for applications) and I process the applicationIf the application passes, I prepare and email over the lease for signatureWhen the lease is signed and sent back to me, I send over a payment request for the first month's rent (via Dwolla or Cozy)At the check-in, I drive to the property to check them in myself and collect the security deposit in secured funds (or use Cozy to collect it beforehand)I have been doing the above for a long time and it has worked pretty well.

You want 4-5 to pick from.

Should I go with the ARM and try and refinance in 4-5 years?

If you are adding value like this, in your situation, I would recommend buying 4-5 more of them that cash-flow like this or better.  

I've been devouring BP podcasts of late (listening in order, and now I'm on show 45), and am looking to be a more serious investor.