Additionally, you miss out on one of the biggest advantages of real estate: forcing appreciation through strategic renovations.Another issue with Turnkey properties is that they often aren’t homesteaded, which typically throws off any proforma, resulting in higher-than-expected property taxes.

However, notice there's $400,000 in FORCED APPRECIATION the borrower added to the property value.

Then make improvements to force appreciation.Many people want to buy turnkey especially in the STR market. 

Additionally, a larger property like this is valued based on the actual cash flow, not sales comps, so you have the ability to force appreciation faster with efficient management.Adding the a 5-10 unit may also increase the amount of time you spend getting you closer to the 'Real Estate Professional' status for tax purposes opening up room for offsetting some W-2 income on taxes.  

That was a great project that forced us to spend and make a series of decisions both together and individually.

When I work with my investor clients I come from a place of education and make sure they are armed with all the information needed and understand the information.

Market forces will generally hit real estate similarly.  

I think finding a network of people is the most powerful force multiplier for this type of investing. 

You can force equity and appreciation.

But it is kind of nice as it forces me to really examine all the charges.