Similarly a casino isn't going to let someone walk up to the roulette table and bet $10 million on black because the risk is way too high, but they are more than happy to let you place ten million different bets of $1. 

@David Miller the property itself is great, the area is working towards building a casino, and rentals fill quick, it’s literally just the road that’s a weird quirk.

Ask yourself if the person recommending over- sophisticating rental houses benefits by setting them up for you. 

SOL is a sophisticated investment term meaning “sh*t out of luck”.  

Clearly, this owner was trying to recoup 100% of the amount spent but I believe any sophisticated tenant would not have agreed to pay more than their allocation of the GLA.

While you can't necessarily force appreciation by driving up NOI, you can often find better deals as sellers are less sophisticated than commercial sellers and you are eligible for residential financing which has owner occupant options of low down payment and interest rate.

However, we do have some concerns on turn-key properties and hope sophisticated investors can provide some insights:1.

I almost NEVER, EVER, EVER see a third party (such as you), buying an LLC from another person that they know nothing about, just so they can take over that LLC's assets.It happens, but based upon my experience, sophisticated business people almost never do it that way.

You may have the bedroom count, but sqft is very low for that rent, your probably closer to $1700-1800 than over $2000 in that area, maybe north of 210 Shandon Hills, maybe the Del Rosa/Sterling area, San Grogonia area, close to Highland or casino area might get closer to those rents.It looks like your trying to Finance with an FHA loan, watch out for mortgage fraud, SB has been a hotbed of mortgage fraud in the past and it is much more of an issue today than in the past, not saying they are looking to lock people up but occupancy fraud is one of the most common forms of fraud and lenders do look for it.

So that they have a little on going skin in the game if they feel it is truly a good dealIn my experience I have not seen that.. wholesalers are all about getting paid up front.. end of that discussion.. many need the money to keep feeding the marketing machine and simply are not financially able to take back end profits .. thinks more of a used car salesmen mentality than a sophisticated JV partner