Each of the properties have an estimated profit of around $70,000.

We all don't care how much Apple profits on our iPhone... what really matters is the product or value we get or in this terms the ROI on our principal.The fees can be broken down in the three main fees (so you might have to combine some of the above fees under one of the categories below):Acquisition fee (paid % of the asset price) - normally 1-3%Asset management (paid % of the income the asset produces) - normally 1-3%Distribution or exit fee (paid % of the sold asset price) - normally 1-3%Development fees (this is present in development deals) - exampleNOTE: Just because these fees are high or the split structure has too much going to the GP does not disqualify it.

Searching property records for o deeds doesn’t tell us if the underlying transaction was profitable, or what the ROI is.3.

You owe your counter-party a standard of honesty and transparency - be sure they understand that you are an agent, but don't represent them, and are looking at their house as a for-profit investment.The pros and cons have been discussed endlessly on BP.  

If the price was right on Turn-key maybe, but probably more of the fixer-upper that can be leveraged later on for additional property or sold for a nice profit. 

With regard to renovations, I always suggest taking incremental steps to bigger renovations or partnering with someone who has already done a renovation at that level.I've been known to just go for the big rehabs for my personal investments here in Chicago , and during that process, it's always more stressful than it needs to be...As far as navigating the competition, I've found the best thing I can do is get EXTREMELY CLEAR  on what I am looking for; then I am confident pulling the trigger quicky. 

I think outside of just what area is going to be the most profitable or best investment, you also need to think about where you are going to be happy.

Now that's flipped, which makes profitability on a simple rental much harder. 

We have grossed $300k in revenue over the first 12 months of operation, at a ~50% profit margin.

We did a couple recent ones that were on market, fixed them up and got them to market after the remodel with a profit.