Partnering with investors, attending local meetups, and building a strong network would be key steps.

My father in law holds the keys, and is the emergency contact (required by the city...don't worry, they never call).  

I live in California (Central Coast) and have built a 12-door portfolio in Detroit, which has been a great market for both cash flow and long-term potential.Detroit still offers properties well below the $150k mark, with strong rent-to-price ratios and a market that’s seeing growth in key areas.

Staying updated and having a good insurance broker is now a key part of your core five (4+1).

Networking is key, so connect with local investors and lenders who specialize in multifamily deals.

If you’re financing, you may need a construction loan or some creative structuring to get this across the finish line.4️⃣ Vacancy Timing – Since you’re using BRRRR, minimizing holding costs is key.

Hitting these targets could be the key to unlocking lasting investment returns.Before diving in, developers need to complete pre-submittal steps, including issuing a "Notice of Intent."

The key with any partnership is well defined entrance and exit rules. 

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. 

@Mario Morales - As some others have said I think the strategy is sound, but the key would be to find a distressed property that you can drive up the value with renovations so that the new value is 25% higher than the purchase price so you pay back your HELOC.