Just choose your partners well and don't move too quickly until you are certain you have a perfect match.And I could see where a long-time management company relationship could one day grow to where the management company is making a financial investment in your acquisitions (alongside your other investors).  

Maybe investing alongside sponsors who provide value to their passive investors is a good way to gain experience & learn until you do your own deal. 

@Michael Stanley NinoDo yourself a favor and invest passively alongside an experienced investor who can put you in a much larger investment (100+ units).

It's typically a pretty predictable 30 day process, and with a hiccup you might push to 60 days, but it makes jumping into even high-risk areas a lot less daunting.

It also would cut down on unrealistic expectations if the Turnkey Company would provide the investor with a Time Table Chart Itemized with activities, times and duties of how the process works and who to contact if there is a hiccup.

When you invest alongside an experienced team, you'll learn a load of good information that can be applied to your future investments.

And I would advise incorporating a liquidated damages clause which sits alongside this progress schedule.

Were there any hiccups along the way that we should look out for?

I currently only have one investment property and I’m seriously wanting to start a property management company alongside REI.

All 3 worked out perfectly without a single issue or hiccup, and I now use those seller's as references.