I currently operate a few STRs so have a good understanding of that aspect although they're all located in touristy locations.

The biggest thing is vetting the operator as they ultimately drive the returns.

You need to know what to look for, what to address, and have solid buisiness acumen to run a MF operation of that magnitude.

You also need the operating cash to do rehab.I say this because you mention FHA and low money.

When you do the turnkey offerings to completely new investors like that, you're going to end up working with a lot of inexperienced investors who blame the turnkey operator for things that are a normal part of the property management business.

It may surprise you, but we have always operated under the premise that renewals make us more money than new leases.

.: That sounds very similar to how I operate.

For instance, in my private lending, I dont really give a numerical credit score much weight, but I absolutely look at the composition and history of the individual tradelines on a report if the borrower is a smaller outfit, such as a single member LLC or similar solopreneur-type operator.

Do you have a 501c3 that you operate under (and rent the house from yourself), or do you purchase homes with an LLC or personal name, and run as a regular business? 

@Michael Beirne Lower priced markets such as Baltimore are very difficult to operate in utilizing entirely 3rd party support.