Quote from @Paul Sandhu: I would start with the zoning & code department for your community Thank you for your response to this years ago...I'm back from hibernation.

that is typically 5-10 years+ of ownership.2. turnkey isn't entirely passive. you have to manage your property manager. they are responsible for doing whatever their management agreement says they're responsible for, and you are responsible for doing what it says you're responsible for. 

HUD has been more responsive than the people supposedly representing me at Chase.

@Hal RobertsThe biggest challenge is obtaining accurate and current data, such as demographics, job growth, and most importantly, rental data.

The strategy that I recommend is going to differ from the responses that I see at the time I'm writing my response.1.

Thanks very much for your responses, guys - really helpful.

Quote from @Dan McDermott: Thanks for the fantastic response, Frank!

Thank you everyone for your feedback.I have decided NOT to accept the offer from SINGH based on the responses I received on Biggerpockets along with some other insight...Logic prevails.Thank you againDoug

A few things in response to what you wrote:1. 

It did sound too good to be true and I wasn’t confident with the financial responses she provided.