However, several factors come into play, such as state laws, regulations, asset protection strategies and costs (widely different, e.g., California vs.

Keep in mind there are brokers/placement firms  out there who can serve as a conduit to the family offices, pension funds and insurance companies and the cost of those placement services are going to be significantly less than the amount of effort and expense that goes into the this new breed of syndicator.

For this product most lenders will go off of the purchase price plus your rehab cost for a conventional loan.

I was thinking I can use those funds for the down payment and closing costs for turn Key properties in Ohio.

I think it depends heavily on the deal you get and what part of the cities you invest in, but I do think when you average it, it can seem pretty low. 

Insurance would cover legal costs.  

How much would it cost for material and labor for a 985 square-foot house?

Partner Driven financed the Spruce Street acquisition using its own capital, covering both the $200,450 purchase price and the $16,000 renovation costs.

However, since this would be an investment property (held for 1 year or less), ARS 32-1121(A)(6) requires all work be performed by licensed contractors if the cost of material and labor is $1,000 or more.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.