@Joe Morelli you have some elements here correct but lets review the numbers a little:The FHA 203k loan will lend 96.5% (or 3.5% down) of the purchase price + renovations.So if you buy for $130,000 and your renovation is $50,000, then your total price is $180,000. 

(but make it a sub-account of the property so that the expenses to fix up the property will be added to the total cost of the property in the fixed asset account of QuickBooks). 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Buy price, $75KRehab costs, $20KClosing $2.5KTotal is $97.5K Rent could be $925Cash flow is $333.45 COC ROI is 10.67%Total cash needed based on rehab estimate and such is $37,500.

Amounts shown are Monthly.Mortgage = $245.85Taxes = $160.17Insurance = $75.82Water = $200.00Total = $681.84Fixed Expenses that I know I have to pay every month total to $681.84.

CoCROI = Total Annual Cash Flow / Total investment. 

Totally understand, @Christopher Veljkovic.

Originally turnkeys were always advertised as being totally hands-off {guilty, party of 1}, but people tend to take that to mean they don't need their brains for them and they don't have to manage anything.

Hey guys! My name is Devon, I’m 21 years old, I live in central Florida, and I’m pretty much brand new to the concept of REI.

About a year ago, I was on the verge of signing up for a class to get my real estate agen...

They own multiple rentals in the area... from my research it looks like maybe 15 properties total.