And if you (the buyer) default on the loan to them, they get to keep the fat down payment and the property! 

Don't go into anything thinking it's a slam dunk, while it sounds good, nothing is over til the fat judge sings.

I'd rather buy, fix, lease, refi (fat all your money back or more.

Thanks Jay,As I mentioned in my reply to Caleb.Influencing an appraisal is a walk in the park.If you buy cash or even with finance it doesn't matter.Find the right people who's ethics are through the roof and that have a proven track record.I'll take it as far and say that even if a turnkey company sells you a property for more than what it's worth.As long as they are willing to go along for the long haul ride, then you are good.There are too many operators that will just flog the product and disappear soon after.Turnkey real estate is about cashflow.If you want fat equity in a deal or a "Deal Of The Century" type property.Don't buy turnkey and do the work yourself.Just my opinionThanks again mate

The fat days are gone, welcome to the new normal. 

Next time you’ll trim off the fat and be in great shape.

Competition is what keeps us from getting fat, lazy and arrogant.

Time to trim the fat and find ways to innovate.I’m interested in digital door locks that are on the market (like these).

What has always worked in good times and bad, and what this COVID left bleeding, and what's getting fat now.

Most owner operators live like FAT CATS when business is new and sales are strong and suck out the cash flow.