(@Jonathan Greene DM us if you'd like to chat about them)Regarding turnkey in Metro Detroit, haven't seen anyone do it the right way:( We've picked up dozens of their clients that fire them due to poor tenant performance and nonstop repairs on their "turnkey" properties. 

When we bought the place there were about a dozen Section 8 tenants. 

A couple factors that come into play when assessing cost:1.

To managed it a bit easier (when you grow to more than a dozen), it'll be better to have one online login and manage all 'child' accounts.

It’s important to have a clear understanding of both hard and soft costs (labor, materials, permits, etc.) to assess your budget accurately.Projected Rental Income: Research the rental market in the area.

Where these numbers are found, there is a very high rate of rent actually being paid.We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, and mortgage industry National footprints.

A buddy of mine, who’d been eyeballing a small multi-unit in Tucson recently, nearly forgot to factor in the HOA’s special assessment fee.

Based on your assessment, it feels like the only way for you to buy something now is to make a compromise that you don't want to make or to get out over your skis a bit more than you'd like. 20 years from now, it won't make much of a difference whether you bought something today or two years from now. 

Have you assessed how some of the repairs will be funded? 

You could probably get a half dozen from the other posters here like Tom.