Anyone who has actually been active in this space will know that borrower behavior can be predictable and irrational, and they might have a fundamentally different mode of operating their life than you do.

Turnkey operations are an excellent way to minimize headaches and begin Cash Flowing the day you purchase your property.

You still need operating money to buy flips and long term rentals.

- How would one run the numbers on a mid term rental when it comes to startup costs, rental rates, and operating costs?

Then you invest that money in a super secure, no risk note with an operator who is already underwater on their original note.

They are also getting a seller's concession which will keep their acquisition costs down.The deal will cashflow from day 1 after debt service and ALL operating expenses. 

I can give you insight to their operation

(especially for those involved on this website)The reason I mention if it matters on this website is because most are real estate investors(long term buy and hold) and will most likely operate at a tax loss which doesn't have an impact on taxes.The second point is, will you invest or not invest in a good investment because of what your tax rate is?

Unless apartments are just not as marketable, then a multifamily building is likely the most efficient for construction expense, operating expense, and rent/SF.With a building of only 12 units, I doubt you'll see any time-based advantage by phasing in duplexes.

On top of that, you’ll want to budget for ongoing expenses like property taxes, insurance, operational costs (such as utilities and property management), and maintenance.