If you're comfortable taking on more effort for bigger rewards, BRRRR might be the way to go.From a tax perspective, BRRRR may be better because you can potentially benefit from accelerated depreciation on the property, which can help reduce your taxable income and give you a bigger tax advantage compared to a turnkey property.

And of course, what metric do 99% of people compare themselves to...the illusion we see on social media where "it's easy to find yourself some off-market deals".

Create a simple spreadsheet or written list to compare the features of each and identify the ones that align with your requirements.

Also, try to find similar rental units in the same neighborhood to compare to so you have more of a rent range/conservative approach. 

Compared to a mortgage broker that adds on so many fees for the same loan.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

No matter the market run your numbers and make sure it makes sense for that local area compared to what you can expect.

I am clueless when it comes to the economic development board, but I do know that Waco in general is extremely business friendly and has very little regulations compared to other Texas cities.

The account fees are minimal compared to the potential gain with most syndication offerings. 

Half of sponsors are now getting crushed when the going is getting tough, and those previous track records don't really mean much, compared to the things I list above.