It is much better to start now and learn instead of waiting till it's ready and you have 1-8 weeks of an empty property if it isn't advertised right or the tenant doesn't work out.

IF YOU CAN SECURE THE CAPITAL TO BUILD ETC IN THE LONG RUN IT WILL WORKOUT, BIG LEAGUE IN RE VALUE AND RENT INCREASES ETC. 

It becomes really simple after a few test runs because of being able to work out the kinks with the team.

I am trying to work out a deal with them right now. 

Also, if your state only requires 30, 45 or 60 day notice to the tenant to move, then the timing would work out nicely from the seller giving the tenant notice to you closing on the purchase of the property.

Then I was heartbroken  when it didn't work out. 

I think even if I became the landlord myself, the math still wouldn't work out when you add in vacancy, CapEx, and repairs.

It will cash flow $10,500 it each unit rents for $900  Hopefully this will work out as planned.  

Maybe its too management intensive.

Calhoun Ventures is very actively doing turnkey properties in Milwaukee and in several other midwest cities where the numbers work out even better than Minneapolis.