Not here to defend anyone or point fingers but we have had many unsatisfied investors over the past 10 years.Most will buy 1 property and expect miracles.It takes a larger portfolio to make it more stable and more cashflow profitable long term.Owning 1 or 2 properties can always be a hit/miss.Owning a larger portfolio should over time perform better "year after year".Just my opinion based on PM data that we see on the back end.Much success

I am in underwriting now with a small local bank who does have the local knowledge you mentioned, fingers crossed.I do have a fairly comprehensive business plan but did not get into the level of detail for the construction that you mentioned.  

G'Day Trevor,Just posted the same below to another investor asking about turnkey and my advice stays the same 😁There aren't many "true" turnkey companies around anymore and I've seen a trend where investors want to DIY out of state and country.Personally, I think this is an even bigger recipe for disaster than buying turnkey.But that's just my opinion.Back in the day you had many "turnkey" companies selling crappy properties in crappy areas for a lot more than market value.Then they pass you on to a 3rd party PM that nickel and dimes you to death.Granted, if you want to DIY I would always advise moving to the market that you want to invest in.Spending enough time with key people needed to make your venture a success.Yep, easier said than done 🤷‍♂️If you DIY from out of state, you will probably find an "investor friendly" agent that will flog you expensive property from the MLS, refer a "good" contractor and then you will most likely also get nickel and dimed by a referred "trustworthy" PM.IMO, you are safer finding a reputable turnkey provider in a market that you want to invest in and go from there.If $#%@ hit's the fan (Which it always does in real estate), at least you have everyone to blame under the same roof.A true turnkey provider will have everything an out of state investor would/want and need under the same roof.No finger pointing is allowed lolI'm bias as we offer turnkey so take my words with a grain of salt.Just happy to offer my 0.2 Aussie cents.Wishing you much success

Maybe it's always that way, but I used to have more of a finger on the pulse when turnover was more rapid.

You've got a big chunk of profit right under your fingers (quick sale), or perhaps more a long ways away in an area you have extremely limited experience.

You could tip it over with a single finger. 

I did find one property that I would love to work on but I know it's going to get a lot of offers as it's the perfect flip so fingers crossed!

The concept here is to buy a **** house that makes you $200/mo, cross your fingers it appreciates in 3-5 years, cash out refi and buy another house with it.

She also spends a lot of time just correcting their errors because pointing their errors out to them causes them to point fingers in every other direction and they take no responsibility for them.However, our corporate parent is realizing some savings, so we're stuck with this nightmare.Definitely NOT recommended.

Fingers crossed that it closes soon and keep my losses a little lower.