It is critical to establish personal relationships with those managing things for you otherwise you will be at the mercy of contractors, property managers and real estate agents who may not have your best interest at heart.

Just like choosing any professional, getting the right team is critical for success.

Critical with these turn key rentals Will is if the rehab was a " skin job " of carpet, paint, water heater and not replacement of all mechanicals A/C, heater, new kitchen and baths, plumbing, roofs, etc.

And if someone didnt to the "analyzing" that you criticize and simply purchased a property focusing on rent/cost that would be a sure fire way to end up in bankruptcy. there are plenty of houses out there, even in my area which you can by with a great "cost/rent" ratio, they are still TERRIBLE deals.

I just took what I saw was the vulnerable parts of the business IE paying too much to begin with,,, getting hosed by the rehab contractor and the critical element Property management and brought them under our full control with every key aspect an owner not a vendor..

Half or more of the loan should be collateralized by business assets, the loan to value is not critical in this case as a long time personal friend.  

That's just one of the many options available later, *after* your equity base has achieved critical mass.First thing first, grow your equity base.

Either way, Boots on the ground is critical.

For a multifamily deal, the two critical variables are typically rent inflation (growth) and exit cap rate (sales price at the end of the hold period).

And the sponsor is critical but once you get with one of them you can establish a very long term relationship.. etc.4.