Here's your mission, should you choose to accept it.Calculate the following:1 - (Cash flow per month as is times the number of months you've held the property so far) minus the cash you spent on the property = A2 - A divided by your cash flow per year = BA = the total dollars you are at a loss so farB = how many years it will take you until you have recovered all of your cost...and start making a profit.Now, do the same 2 formulas, except this time calculate it as if you bought the properties using only 20% down...instead of 100% down.  

Of course these numbers are examples, ensure to plug in your own numbers.To simplify investing, having limits of what you will accept and sticking to them is key. 

Hey Nick,I think I am simply being redundant now with the rest of the posters, but this is clearly a case where someone uses the word turnkey to market a property hoping that you will just accept the results and then expect the great returns I am sure it showed on paper.  

I think you need to accept the fact that it is in fact not any other rental and decide if you are able to see your plan through (treat it like any other rental). 

I personally could not see an arrangement where I put up all of the money in the project and take on essentially all of the risk (other than your opportunity cost) and accept less than 50%. 

And with that what rewards you will accept for each achievement hit. 

And start thinking about assembling a procedure manual - will you accept pets, how will you recognize a strong candidate, how will you establish the rent amount, that kind of stuff.

I did not accept the inspector recommendations of anyone in the deal.

You should know what the rehab cost will be BEFORE offer acceptance and you should know what the ARV is...plus what it will rent for.

Unless there was a lien recorded in the public records I doubt the insurer will accept liability for the matter.