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.

I built this one 7 new st.. which build cost was probably 40 to 50% higher for the sq ft because of what we had to buy to meet the BAR ( architectural review for those that are not familiar)  I also built about 20 in North Charleston a before it sky rocketed.. my building partner is now working hanihan. which is the next one to go. 

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

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

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

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

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.  

They are also low barrier to entry and low risk.

Rents on the low end are $150 a month uncovered.