Getting the loan is no cake walk too. 

Hi @Nick Ovington:1- Definitely work with an independent mortgage agent.2- Can't have your cake and eat it too.... if 100% of the purchase price is financed, yes, you'll have a hard time cash flowing positive.3- As a tenant/buyer, or an investor?

The fix-up TV shows and flipping gurus have a special habit of making wall removal sound like a piece of cake, it isn't.

(not disagreeing with the idea of owning rentals, since that is what I do)Besides the real estate, I bake and sell gluten free cakes and cookies.

Turnkey is about reliable, passive cash flow, not appreciation (we call that the 'icing on the cake'), and you do give away a piece of your return for the luxury of having someone else do all the work, but you shouldn't be buying a house with negative equity (paying a lot more than it's worth).There are a billion other things you should keep in mind when looking at turnkey, but I've rambled enough.

@Brian Burke   the cherry on the cake on the one i am going to bull doze sometime in the distant past one of the owners dismantled a car hauled it down into the basement and put it all back together..

Don't get me wrong I hate taxes, and especially when they increase, but as the old saying goes you can't have your cake and eat it too. 

No rent cake in for May.

Any appreciation of the properites is just icing on the cake.

The icing on the cake is that when you are ready to sell, single family homes sell faster.