Most turnkey properties these days are usually cash flowing $200-$250 per month with 25% down.

The Property Manager usually does light cleaning and repairs between tenants.Recommendations or another way to think about this? 

It usually means there are problems to be solved for the seller which will translate to opportunities for you.Keep it simple on your first 2 deals to minimize your risk.All the best.

If you find you are unable to raise the money for an all-cash purchase, switching gears to Fannie will only work if you have a LONG time to close in your PSA or have many extension options (which usually require more hard earnest money.)

My maintenance is usually less then 1k per year., We replace the roof, and HVAC if 10 years or older.

STRs are essentially small hotels, thus they are usually taxed similarly to what hotels and motels are.

If it is a direct lender you are able to work to find more favorable terms because they usually determine their terms on a deal by deal basis. 

These descriptions we are talking about are by folks like myself with decades of experience working with these folks..

Always make sure the loan-to-value ratio (LTV) aligns with your risk tolerance (usually 60-70% for fix-and-flip loans).Once you're prepared with contracts and a local network, you can start talking to borrowers and agents to find opportunities.

But I usually heard this from people who had never owned a business before, didn’t have the cash to back up their plans, and often were planning to maintain full time jobs.My advice: Start with one business.