Rentredi seems to do it all but the reviews for it say there are a lot of bugs and a lot of hidden fees.

Avoiding accessive PM fees (personally I recommend most people self-manage)These will eat away at your ROI.

I just go in at the first of every month and code each line item to the corresponding property and note what the expense was for (Repair, HOA Fee, Mortgage payment, etc).

Basically you find these distressed properties in pre foreclosure, probates, divorces, or just ugly vacant properties. then you calculate the Max allowable offer and if it makes sense you call up the property owner, get it under contract for dirt cheap, then you assign the contract to a cash investor for an assignment fee. this is the general idea obviously it gets more in depth, but its finding deals that you would buy as a fix and flip or brrrr, and instead of actually buying it you sell it to other investors.Ahh I see, thanks for clearing that up.  

The property was rented and generated $160 cash flow after mortgage, taxes, insurance and property management fees were paid.

Not to mention significant fee's on each, because cost's are spread across such a small pool. 

@jay hinrichs - I've noticed on turn key websites that vacancy and repairs are not factored into these 8%-10% estimated returns. 

They give the same $12k in closing costs to new buyer, $24k in realtor commissions, tack on say $4k in late fees, foreclosure costs, etc etc etc  so they “net” $360k.

Their contribution depends on factors like local demand for ADUs, their design and size, and how they’re used (e.g., rental income potential).

The letter also states the total non-rent items currently owed by the tenant, such as accumulated late fees or repair charges.Also very important, the tenant states they have no unresolved issues with their current landlord, except as listed in a space provided, and they have no current plans to cancel their lease under the Service Members Civil Relief Act or for any other reason.