I have seen many 'cash buyers' fizzle out at the last minute due to lack of ....surprise surprise ..... cash ! 

I would't be surprised if their heirs come after you once the folks pass away.

These houses are actually in nicer parts of Houston, which is why I'm so surprised.

I was actually pleasantly surprised by the content.

But I have seen some of the faux stone look fiberglass and was surprised by how they looked. 

[However, I'm surprised to read that they would lend out such a "small" amount.

Honestly, i'd be surprised if a bank was even willing to do a commercial loan on a property with a $55k ARV since that's end up being such a small loan assuming a 75% LTV.

While I love the flexibility you have to do another loan after you've paid it down by 20%, just be sure that you plan for that 7 year period (If sunrise has it) so you aren't taken by surprise.

Owning real estate comes with unforeseen expenses like plumbing issues or window leaks so operating at a loss and then having a surprise expense is not a good way to start out.Ask your agent how many investment properties they own to see if you are getting advice from a real investor.

Surprised we didn't have more folks join in on this convo yet.Looking to hear best practices from those who have bought/buy turnkey as well as those who have sold/sell turnkey.