(I'll add that to the bottom of this post)Also, while not directly a foreclosure cost, other factors add to the unpaid principle balance.

By that time its at the bottom of everyone's MLS feed and everyone forgets about it.

Also, not mentioned is that there is forced appreciation, tax savings, and amortization going on here (and in every market) that contribute to the bottom line.

Bottom line there are endless resources out there including the wealth of knowledge on this site. 

I build new homes and sell them so I have a definite bias.my point is in some building tracts if the builder is doing a new build program for investors. you put up 20 or 30 rentals in a short period of time you saturate the rental market and that can drive DOWN rents.. or in this case maybe the rent was never real..and the OP just went with what he was told.. but bottom line this is simply the landlord business at its base level.. and has zero to do with Turnkey being the problem.

If someone is *only* doing real estate investment then they start at the bottom. 

Bottom line, if there are no people to rent or live, your asset is not going to appreciate.

She wrote  "Easy Example: Say we manage a 2 family with 6 tenants/residents in total: 4 people living upstairs in Unit 2, and 2 people living downstairs in Unit 1: If January's water bill for the whole building is $100, then February's Rent for Top Floor Unit 2 would have an extra $100 x 4/6th (or 2/3 rds) added on = $66.66February's Rent for Bottom Floor Unit 1 would have an extra $100 x 2/6th (or 1/3 rds) added on = $33.33I always send each Tenant a copy of the entire building's Water bill, plus a cover page with a detailed explanation of the billing-breakdown."

Some people are late their whole life, and late fees can be a great addition to your bottom line.

The bottom-line is I pay the difference, and only do this because I want to.