How about the simple obvious that the inputs to deliver the service/product have a base-line and market prices have, OBVIOUSLY, been at about as lean of operating profit margins as can be. 

The Economic Development there is focused on building competitive regional talent, diversifying the regional economy, transforming Montgomery's image and building diverse community capacity.Major economic drivers to the area include Hyundai manufacturing, Maxwell & Gunter Air Force Base, major Amazon distribution, Alabama State Capitol, Alfa Insurance, Kinpak, H2 Pharma, Dollar General transport/logistics, Dow Chemical, and Conner Industries to name a few. 

And there’s no catalytic economic drivers for those areas.Don’t do it unless you are doing it just for fun and pure speculation.  

. —- Again I’m not saying you have to do these things; it all depends what type of investor you are and what you are looking for however it is important to understand that if you shift the responsibility of either identifying the invest property or managing or any other aspect there WILL be a trade off — in this case the turnkey company has delivered on your goal of 8-9% ROI (projected... so TBC) and in return you have traded some of the other benefits of investing in RE for the convenience of not having to do much more than to look over the properties they have sent you and funding it from the comfort of your home, office, etc. ... again if this is the goal then you are on point but if the goal is to also partake in ALL of the other benefits of RE then you should understand that and not be surprised that it’s not a ‘stellar’ investment that checks all the boxes.

If cash flow is your main driver, not sure how well the Madison, WI market would stack up. 

And up-front costs to deliver quality are not cheap. 

Comparing what was promised to what was delivered lacks context. 

How are they delivered?

But with 40 ft lots, that same space could accommodate 179 homes.By increasing density in this way, we can deliver homes that are more affordable, while still meeting the needs of families who want single-family homes with their own yards.Higher density doesn't have to come at the cost of quality or livability.Much respect and love what you're doing at BP.

Like i got a recip to Mississippi for my CA / OR Brokers licenses and it was a whopping 13 question test I never figured out how they came up with thirteen questions its was almost like for me taking a drivers license test took me 5 minutes..