I think it will be closer to double if not triple that.

Some may not want this scenario but it worked out absolutely perfect for us as we were able to get all 3 renovated and rented with new tenants at almost triple the original rent.  

When I say that’s all that I do, let me tell you what to expect in the life of a landlord and all that they do. 3 am Christmas Eve Tenants call-Furnace went out.I get up, phone calls made, emergency call, expensive triple overtime to the Heating Contractor, Tenant has heat.

This won't be the case for turnkeys right now because of where we are in the real estate economy in general, but because I bought at the perfect time in Atlanta, all my turnkeys have doubled and tripled in value. 

To pay that amount in that town means the taxes triple, and makes the return on investment, not really worth it.

Now during the peak of the summer I was full for almost 2/3s of the month and made double, almost triple what the place would rent for by the month.

We tripled our monthly cash flow by doing this.

Triple A baseball, minor league hockey, concerts, plays, etc.

Once you get into higher end / higher priced properties, these numbers will have to change as it is not a one size fits all equation.As an example, I sold a property a few months ago for $1.56M and the gross profit at the end was about $225k which ended up being a triple of a deal (baseball reference).

Some investors I know figure out all material costs and triple it to include labor.