My main concern is what is your explanation for the high vacancy with below market rents situation?

The fact the accountant assumed the worst case scenario for you, instead of Letting you know the option and risk of claiming long term cap gains would concern me.

(I think I could get this down to $4550)Advertising: 250Appliances:  1000Lawn and Grounds:  1800Miscellaneous: 500The other questions about this property that I have concerns about are that there are repairs that need to be done and I estimate the repairs to be in the range of $50000.  

Also, I am concerned about how long it would take to recoup my money as well as the risk involved.

So your correct to think that who you start out with probably won't be there in 10 years.. althought the industry this time around is more stable than last.. the lenders have made the borrowers be more qualified than alst go around You appear to have completely missed the point that the turnkey operator is NOT the property manager, which was the original concern presented.  

All that my investors money partners do is coming up with the 30% down payment for the hard loan plus the $10K  (Finder´s fee or acquisition fee) LET ME DISCLOSE I AM NOT ASKING YOU OR ANYBODY ELSE TO BECOME A MONEY PARTNER WITH US.MY CONCERN IS ABOUT THE TRANSFERRING OF THE OWNER SHIP OF THE LLC RIGHT AFTER I PUT IT IN CONTRACT.

I'm ok paying for the service, but am concerned when a lawyer says he doesn't know how long it will take to review redlines!!

My concern was that I have known people who only smoked outside but their clothes, car, and in turn the house eventually had somewhat of an odor to it.

Not a single person got a bad deal on their $197 as far as I am concerned.

My only concern is the foundation.