I kind of get the impression that local friend is irritated as if I just wasted her time.

But that’s a very long time and looking at that IRR, it’s really like 6-7%.

@Marina Flu  There are options for both loans based on personal income, and loans based on the property income, but using just property income will have a higher interest rate. 

While leveraging with loans can raise the potential IRR, it also creates additional risks. 

I learned that from the Asian Flu, 911, Lehman, etc.

I've had particularly bad luck with US Bank in the past, they had terrible customer service and too many nickle and dime things that just irritated me. 

Nothing irritates me more than setting up an appointment, driving over to the rental property to meet a prospective tenant and no one shows up.

The amount of time that you will invest in trying find a loophole just to irritate the neighbors isn’t worth the headache.

I've never even heard of a turnkey company using a sketchy contract, and with a lawyer not being familiar with turnkeys and they are essentially glorified salespeople (sorry, lawyers), they tend to just make mountains of barely-existent molehills and irritate everyone.

They may not mind, but I personally would be irritated if my rent stayed the same but an extra person got added into "my" personal space.