(@Jonathan Greene DM us if you'd like to chat about them)Regarding turnkey in Metro Detroit, haven't seen anyone do it the right way:( We've picked up dozens of their clients that fire them due to poor tenant performance and nonstop repairs on their "turnkey" properties. 

This is a micro economic condition based on a specific market as not all markets perform the same.

Hello @Daniel Reed,The supposed advantage of multi-family properties over single-family homes is misleading when you look at financial performance.

This is an ongoing situation and I’m hopeful that with RTR’s help, this story has a positive ending.TLDR:Property not performing as advertised.

And/or are you willing to take the risk of being sued by the seller for not performing on a legal contract (and losing your earnest money)?

Ultimately it will depend on the property (banks perform stress test-debt ratio)-but I think 5 year term is what I found so far.

The contract must contain:the contractor’s name, address and telephone numberthe approximate start and completion date, including any contingencies that would change the completion datea description of the work to be performed and the materials to be provided to the consumer, including make; model number or any other identifying information; and the agreed-upon price for the work and materialsa notice advising you that you have three business days to cancel the contract, unless during an emergency you waive the right in writinga notice that all payments received by the contractor prior to completion of the contract work must be deposited in an escrow account

I created the following decision tree diagram to illustrate the decision process (click to enlarge).The above decision process is based on the property’s performance record, with the goal of achieving financial freedom in mind.Financial freedom is not just replacing your current income.

I would highly recommend you create a Market Report in PriceLabs to see how similar properties nearby are actually performing.

The math says to perform $500 sewer clearing each year instead of $5000 excavation, but the $5k bought peace of mind.