For me as a potential renter it sounds like a pain in the arse.

Also SBA loans are tough to get and your investors are not going to want to sign on those as they will forever be personally responsible for them there is no BK relief if your deal does not work.. if they are equity and your deal does not work they just lose their cash but you will be on the hook forever for the loan..

There will be pain and suffering for those who go first.

They don't update listing statuses, we as buyer's agents still have to do some of the agency disclosure paperwork with the seller and estimated net sheets required by our RE commission - so frankly they're a pain in the rear. 

It depends on your local rules but splitting a parcel can be a major pain and the locality might not even allow it due to zoning or setbacks or lot size restrictions. 

It was very painful. 

Was able to reduce electric about 60% through energy efficient upgrades, and then put rooftop solar on the place (going in now, permits for commercial are a pain in the @$$....Will nuke out the power bill, just have a few bucks for connection fees.  

It's actually an amazing relief, after some paranoid litmus testing, to find myself discussing the specifics of my deal with no concern for being taken advantage of, or having to lie just to protect myself from other lies. etc. 

So it's not like Turnkey is pain-free, you have to do the work and know how to avoid being taken for a ride, like pretty much any big financial decision in life.I am always happy to provide info to new investors, as it fuels my BP addiction anyway ;) But before you or your friend make any decisions, it's crucial to have a serious heart to heart about what the goals are for the investment and what your needs are with regard to time commitment, risk, and control (do you need to be near the property, do you need to be in charge of tenants?).

They share the same meter so pain to rent separately but, good for this I guess.