For illustration purposes, the majority of investors who post on BP will move the property that pencils as a true BRRRR to the front of the line over the better situated asset with better fundamentals merely because they receive 100% of their invested capital back as opposed to 90% (again numbers are merely to illustrate a point).

It's all about the team you have in place, in my opinion a true turnkey rental is one where the provider purchased the property with their own money, did the renovation and own the property management company on the back end.

Very true, that being said on the last clean up day 8k lbs of garbage was pulled from the lake.

Experience with Distressed Properties: While it's true that many clients of real estate agents are looking to sell for a profit in non-distressed situations, investor-friendly agents specialize in or are at least familiar with foreclosures, short sales, and REOs (bank-owned properties).

Figure a few grand to paint rooms, replace carpet in a room, deep clean and spruce the property, replace a fixture or two, etc.If you have to replace your resident annually the $9600 total income will get a gut punch.The true value of the higher-end neighborhoods is residents know if they move out of the home they have it's a challenge to find another, especially if they have been there a few years and have a competitively rewarding rent rate.All this really is is basic economics...sell ten custom widgets for $1000 or 100 standard widgets for $100 each.

If you don't want to get your lenders in trouble, pick up a copy of Lend to Live in the BP bookstore for both of you to educate yourself on how to do it the proper way so that it's a true business transaction and not cutting corners just because you know each other personally. 

Our goal is not just freedom from employers, the government and Wall Street for our clients, it’s true for ourselves as well!

This is especially true if Spark is charging fees/carry at their level.

The only true way to price new construction is to design the basic plan, then price all the finishes from the least expensive to the most expensive options you would put in. 

Meanwhile a cash flow rental elsewhere would be a true asset if I am going off of Rich Dad Poor Dad.