)  :)Getting back to your question, which I am probably not qualified to answer since I am not a "smart" money person:1) Your assumption was that you cannot get a second mortgage with your current salaries.

In addition, they have build in functions that you can put in your own assumptions.

Now it is true many use the turnkey label differently, with a less complete service and risk assumption, but that I wouldn't consider a truly a turnkey investment. 

Do this long enough and sooner or later this assumption will be correct, so you might as well stress test for it from the beginning before buying.

Lots of assumptions in there, so working the numbers with local insurance and property management expenses might be a next step.

Which means things will be interesting in the months to come.Do your market research, get your finances and strategies in order and make very conservative assumptions if you see any opportunities currently offered to you.

The owner is not personally liable, absent their specific assumption of the backed payments. 

This will show you what your out of pocket costs will be to purchase the property -- the assumption is a commercial loan with a 75% LTV (so you'll be out of pocket 25% of the purchase price, plus the closing).  

Sometimes it's not simply adding an improvement (house) to a piece of land.So, going on my assumptions, your profit drops because your costs increased.

Cash on cash return is the annual cash flow divided by total cash you invested in the acquisition (usually includes downpayment, closing costs, rehab, appliances, ect.)I plugged you example into my spreadsheet, along with some assumptions on taxes, downpayment, CapEx, ect. and get a 4.7% cap rate and and Cash on cash of -.95%.