@Matt Mason Matt I think you have the grasp of turn key.If you can search my post "turn key demystified" I give chapter and verse of my almost 15 years and over 2,000, HML's made to turn key clients.

Been on the BP forums for a few months trying to grasp as much as I can and over a year now doing daily research about real estate.

Also, when applying the 50% rule, should I use my best judgement for the expenses that I have a good grasp on and apply the remainder of the 50% to the other line items?

I am really trying to get more of a grasp on buying homes that are in auction so I can flip or rent.  

I am not against either of these things, but at the current time, while I am still trying to get a grasp of all the moving parts involved in buy/hold investing, I do not want to spread myself too thin. 

Im sure you have a good grasp on this subject already so Ill stop the 101 class.

I was amazed at just how simple it was written for inexperienced aspiring investors like myself to grasp conceptually.

It all depends if you really want to show them how greedy and grasping you find them.

I will try to attend some open houses so I can get a strong grasp on what people are looking for in my area.

Starting off with one for the first 6-12 months, and then acquiring more once I get a better grasp of all the details and become more comfortable.