I also travel to AZ 2 times a year so that helps with checking on the property and what not.

I feel @Jay Hinrichs comments were warranted because they tell us new comers to the industry what not to do.  

The numbers still work and it’s too much of a headache legally and what-not to bail

I was a little confused when I first read this thread because, to me, 'direct deposit' means the deposit happens electronically--no one actually physically goes to the bank or whatnot.

The up front fee is used for appraisals and what not.  

I've now navigated a lot of the real estate space and have learned a lot of what NOT to do.....now focusing on what to do here in Chicago.

I understand that many do this for house flips and what not but can you use this strategy for normal SFH?

I've looked for facebook groups and I mostly find people posting off market deals and whatnot.

What rate, LTV, and what not are you offered? 

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Google Clayton Morris and/or Morris Invest for a cautionary tale of what not to do when buying turnkey real estateUnderstand you can not eliminate all risk, only mitigate it.