That's because turn keys are generally sold at market value and don't have built in equity. 

If Tenant fails to pay rent when due and the default continues for three (3) days thereafter, Landlord may, at Landlord's option, declare the entire balance of rent payable hereunder to be immediately due and payable and may exercise any and all rights and remedies available to Landlord at law or in equity or may immediately terminate this Agreement.

We will have 80-100K in equity that I can pull a HELOC to reinvest.

No worries, I'm afraid the picture I attached with the financials has a very low resolution.The purchase price is $5,600,000 for 52 units, the loan amount is $3,700,000 secured at a 30-year term with a 30-year amortization period, interest rate is fixed and rate locked at 3.85% for 5 years.The sponsor is raising a total of $2,500,000 in equity (they are also buying in ~15% of the equity), so the additional $600,000 raised are going in closing costs and fees (~300k) and budget for renovation (~300k).Because of the favorable debt, the DSCR seems particularly good (I have been comparing this deal to other crowdfunded on the web and boy those are risky, some barely get to 1 with an interest only loan!)

I've been rehabbing my primary over the last year and a half and we've made about 65k in equity (according to the recent appraisal).

So, we have about 350k in equity that we’re sitting on.

Or you might be on the 14-day trial.I saw your profile and saw that you made $100k in equity and already house hacking, why not continue doing that? 

I don't believe that the property will increase much in equity but the two bedroom and basement combined can potentially pay the entire mortgage while I'm living in the 3 bedroom and will cashflow when I move out.Should I do it or not? 

Buying a foreclosure, I’ve bought a home and have $35k in equity before I’ve fixed the home up.

@Christopher Phillips, approximately $40K in equity.