Lots of ways to skin the cat in this game and turn key is the easiest for most people to wrap their brain around.. just like you said you were having a hard time wrapping your brain around sub too... that's only because its a fraction of the market and generally done by folks more advanced in the business like a Mike  who do real estate more for a living than passive investing  a lot goes into doing a successful sub too..

I would want to structure it where the GC would have skin in the game, and we would split profits once its sold. 

Thats fine because they aren't putting any skin in the game.

Good luck.....and go 'skins!

If it's not important, you usually know when you see who's calling and can let voicemail handle it until later.I too get irritated when agents don't answer the phone or return calls on the weekend. 

I feel sometimes if tenants have some skin in the game they are more responsible.

Really it helps validate my position going forward which is to only look at a) for buy-and-hold, true partnership JVs where the on ground partner has skin in the game, b) notes (and I buy your point on lack of leverage being a problem...but I'm reading up on hypothecation...yes I'm foreign-based but still US citizen so I don't believe any unique tax issues for me), c) fix-and-flip partnerships.

"There is more than one way to skin a cat."

How much skin are you bringing to the game?

I seriously did not want one penny because as they day, "it is no skin off my butt".