(partially because I'd love to own in Venice and it's super irritating I can't...)

Your ROI is a number close to infinity and you can repeat indefinitely - And YES - there are still deals out there that will work ... one just closed a couple of weeks ago in The Woodlands on MLS at about 70% of value and only needed light rehab - maybe $5,000-$6,000ARV - 177,000Sold - 123,000Rehab - $5,000Total invested - $128,000-$129,00080% refi - $141,000 Rents - $1,500-$1,600 My initial offer was $120,000 - They declined to counter - Now that I see the final sale amount, it irritates me that I was so close but missed the deal  

11 times would be a bit irritating, I do have the ability to return the phone call in a fairly reasonably amount of time, but seriously their emergency is not my emergency.  

I kind of get the impression that local friend is irritated as if I just wasted her time.

But that’s a very long time and looking at that IRR, it’s really like 6-7%.

While leveraging with loans can raise the potential IRR, it also creates additional risks. 

I've had particularly bad luck with US Bank in the past, they had terrible customer service and too many nickle and dime things that just irritated me. 

Nothing irritates me more than setting up an appointment, driving over to the rental property to meet a prospective tenant and no one shows up.

The amount of time that you will invest in trying find a loophole just to irritate the neighbors isn’t worth the headache.

I've never even heard of a turnkey company using a sketchy contract, and with a lawyer not being familiar with turnkeys and they are essentially glorified salespeople (sorry, lawyers), they tend to just make mountains of barely-existent molehills and irritate everyone.