But I would definitely talk to your cpa because everybody's setup is different and there may be something unique in each situation that allows you to do something different to maximize your profits and limit your tax liability.

Your plans might change down e road if you decide to scale.For my particular situation,  I don't payoff extra debt unless it is hard money or a unique circumstance.

All these folks that say they have done X millions of deals and never had an issue could be lying, exaggerating, or lucky too as it varies somewhat from region to region, the market risks involved at the time, contractual agreements and even the ratings of a bank may influence their actions, you will never know.What you do need to understand is that the DOS has been, is and will be used, to what extent, we don't know, but you need an exit in the event you do get caught up in a note being called due!

Style greatly affects costs.Materials LaborPermit fees (sometimes these are higher than materials)Financing costsEveryone brings different experiences and skills to the table, each region of the country has their own influences on labor and materials costs, etc.

Read this for information purposes only, since (like all court cases) your actions are unique to you and the results of this case may not apply to you ;)Not legal advice.

At 3 to 4 million you should be able to get away from local to regional banks and get better loan terms fixed for ten years with 25 year amort.

I was speaking with them about the rental guarantee and it is by a third party insurance company which I found unique but interesting being that I would be an absentee investor sounds like a good marketing tool for the investor that is just getting into turnkey. 

Based off of this thread you seem pretty well versed in the Albany region...i'm curious to know what areas in Albany you think could be good for a green investor such as my self ( I currently have about 20k saved up and my immediate goal is to purchase a single family or small multi family house that cost no more than 50k with the intention of renting it out to students). 

@David Tipton  there are a few here on BP I think.I have a unique view on this... as I was brought up in the business by my dad and his RE attorney in Oakland CA. 

I have been doing business in Il last few years.. and its a very unique situation there.. were your forced to deal with an attorney.