Most of them are also not very deep, leaving many situations unregulated.

So if you have deep enough pockets I'd hold the property for longer and refi into a conventional loan if possible.

@Chris SeveneyI agree the sponsor is the most important factor, but passive investors can not ignore what they are trying to accomplish, and have a deep understanding of the business.The trinity!

Be wary and seek advice about everything before you dive into the deep end.       

I’m nearing the completion of my Tennessee Real Estate License, and I’m eager to connect with like-minded individuals in the real estate space, specifically in the Nashville and Franklin areas.I bring over 8 years of experience in renovations and custom home building, which has given me a deep understanding of the construction side of real estate.

Quote from @Adriana Collado Hudak: Hi Jason - I did a deep dive into turnkeys and MidSouth Home Buyers checked off all the right boxes.

I had to work with them to dig a conduit ditch  8 feet deep to get a transformer added.

Is it unlikely to buy at a deep enough discount to make BRRR and PM work?

It's the phase where you dig deep into the property, conduct inspections, and address any uncertainties.

Seasoned investors have a deep understanding of the market.