Most importantly, I've learned that turnkey is an illusion.

A beautiful smile, during a first walkthrough could send the illusion of credibility, yet an illusion.You think a sweet little blonde grandma will scam you into stealing your wallet?

Yup, anyone flashy: showing checks and/or cars are trying to create an illusion in which they get you to insert yourself in that life [that is the rental car] at that moment or that you will live that life if you do this NOW (always has to be now or never) [mostly, drop 25k on a course]. 

And you get the false illusion that the networking is helping you.

Its an illusion! 

I don't factor in capex in the formula because doing so is an illusion. 

Actually what your describing is a company or fund that is in the business of lending money.. those are hard money lenders.. what we have seen over the last 5 to 7 years is these companies CALLING themselves private money lenders to give the illusion that your getting cheaper money.. which as we know everyone thinks a private money lender is cheaper than a hard money lender.. but that simply is not the case most of the time.. there is a race to the bottom for private/hardmoney rates.. on the west coast it can be as low as 1 and 7 and most True individual that would be the definition of a private money lender IE they are not in the business to lend money they don't advertise they don't solicite most of those folks will want more than what the better HML are charging in todays market.  

Also, thank you for your tenant advice, i'm going to try to make that template and ill use your page as a resource.

Small bits of information give people the illusion they are experts, and then they dig into the position that they hold. 

Believe me I owend 350 of these types of homes from D's to B's its not something you want to risk.I understand this company has a very polished approach and a very well thought out marketing scheme that gives the illusion of grandour but its just an illusion..