A lot of buyers in search of turnkey want everything together in a nice tidy package, so to speak, and they're typically seeking it from someone whose business model it is to provide turnkey ... it's the package that makes it worth the premium price, not just the condition of the property or the fact that it's rented.

(Hypothetical Situation)149k asking price130k purchase price50k rehabARV value - need to confirm with my agent, but let's say 220kI'm just beginning discussions with banks so don't have a ton of knowledge, but figured I'd reach out to see if anyone has any advice/thoughts.1. 203k loan typically requires 3.5% down, PMI and for you to owner occupy for 12 months - is that correct?

I just started investing about 6 months ago and picked up my first rental typical 20% down conventional mortgage.

Each tax bill will have the owner's name an mailing address.You can try to google their name + address in the off-chance something will come up to get their phone number.As far as finding an accurate ARV - this is challenging and would typically require you to look at comparable sales for similar properties in the same area in the last 6 months or so.

As far as the information you have provided is concerned if you get 1K in rent and expenses are 50%, which is typical on a SFH, that leaves $500 to provide a return on your investment. 

Typically you are buying these turnkey properties out of state.

We dont own any parks but we have about 20 cash flowing mobile homes in parks across the valley.We have a really cool set up from start to finish that we are continuously working on but this is typically how it goes from start to finish. 1.

Typical Miami crap. 

@Paul LaSpinaI think it depends on the level of trust you two have, how the voting power is divvied up, & whether or not YOU feel a 50/50 split is fair.We syndicate large multifamily apartment communities & typically raise over 1MM from our passive limited equity partners.  

You'll also work out with your PM what types of repairs they can do and then inform you about, typically attached to a dollar amount, e.g. you may authorize them to make repairs up to $250.