Pricing a rental property too high is a BIG mistake. 

@Janine Sharma The decision to classify your onsite mobile home park property manager as a W-2 employee or a 1099 contractor depends on the degree of control you have over their work.

Investment Info:

Single-family residence fix & flip investment in Success.

Purchase price: $55,000

Cash invested: $25,000

Sale price: $119,000

Bought at around $50k
Fixed up at around $20k
So...

Yup, property condition, vintage, neighborhood, tenant base, property management are all very important considerations. 

Have a frank conversation with the property manager. 

Mike states not to fall in love with an investment property.  

Just get a second set of sheets for each property so the turnover isn't pending the same sheets going back on the beds.

@Dan AudinoFor path #1, is your eventual goal to rent out the property?

I have little confidence in turnkey providers, deals are already hard to come by, if they take another 20% cut before.. much better to buy a property from an owner that is in good condition.

We sell the property and each side get their money returned off the top then we split the profits 50/50.