Typically turnkeys are priced in the lower segment of the market so that the cash at risk is relatively low.

This is an important distinction as they are covered differently in the State's Landlord-Tenant Act for Mobile Homes.

Even if you keep the financial aspects of the transaction very distinct and clean, there could still be benefit if either party is enabled to participate in a transaction it could not otherwise because of access to the funds of the partner.

It also might not be a meaningful distinction, but my business is focused on buy and hold, rather than flipping, so I don't have plans to sell any of these projects in the next several years, although I likely won't personally occupy them.  

Is there a distinct line on when you have to do that (relationship with investor, amount of money, size of deal,etc.)?

I guess that's the distinction but the renovation schedule we are putting in is designed to not have to touch these buildings with CapX for 10+ years thereafter.

Making a different LLC for each new property further segments and limits any potential liability between them.

@John Warren yes, that's a good distinction.  

We NEVER add to people's posts, just remove either entire posts, or segments of posts that pose a problem.

When you hear about landlords not receiving rent due to the covid eviction moratorium, this is the tenant pool segment most are referring to.Permanent - These are typically families with an income between $45,000 and $65,000/Yr.