Hey Karl, @Karl SzymanskiI can definitely understand the temptation to do something close to home, but it likely will depend on whether you are planning to manage these properties yourself (which I personally, wouldn't since you are simply just buying yourself a new job) and where the best forecasted ROI is at. 

Do i take a snapshot photo of my outgoing phone call to the GC or can I simply summarize in the log that I had the 1 hour conversation with the GC and summarize the details of the conversation? 

The court awarded $200.00 less because the tenant had to eat out due to the lack of a range.

If there is no match there is honestly no reason to tie your money up with them especially if the returns are lack luster.

Did you use a calculator or spreadsheet, or did you simply work out the math like rental income minus PITI, 8% for CapEx, 8% for vacancy, and 5% for repairs?

You may also be able to simply QCD the property in your LLC but you run the risk of the current lender calling the note due because of the transfer. 

For me the reason for going turnkey was to limit my lack of experience and knowledge of the areas I am investing in and I looked at the premium I was paying as worth it to acquire the things I lacked. 

Not having individual meters is simply unprofessional.

Is this common, or are we overpaying due to lack of competition?

Overall, it was good to me, but it was certainly more work than market rate tenants, simply because I effectively had small turns every year with the inspection repair lists.