At least I'll get a great return. 

I also prefer that the managers share the risk alongside me - via skin in the game and/or profiting only after I have my capital returned along with a preferred return before the manager/developer makes any profit. 

It all depends on how we're qualifying for the loan -- are we in a position to be able to provide tax returns and income for the purposes of qualifying?

Tax returns?  

-German Shepherds are wolves that grew bored with the pack and now live in my home; liabilities be darned...I am here to share what I know, grow where I am weak, and obtain a stronger relationship with my girls by slowly ending the indentured servitude to my daily grind.

My issue is that I do not have tax returns to get another loan for my next property, but I have the money for my next property.What would you suggest for me to get my next property?

The original numbers made for a substantial return, but a competitive housing market in downtown Tucson has made this deal a home run.

If you have a shi**y product, it's going to be empty, or you're going to be leaving money on the table by collecting less than you could (rather, giving up a high return on your capex improvements).Whenever I defend 'slublords' people think I am one. 

Any CPA specializing in real estate would more than likely be doing returns in Delaware and therefore be familiar with the Delaware tax code. 

But in general with turnkey the trade off is usually a lower return for not having to fund a property yourself and doing the rehab etc .