@Nick Hedberg, no, I haven't used Turnkey, but I am developing a setup Team to help me with my research and to be ready for me or my sourced Investors to pull the trigger (ie. not turnkey).Companies that specialize in selling Turnkey Properties will often/usually have the required after-market services available through them too - at their (full retail, plus admin fee) prices.

And that it's important to me that I get this right.In short: until I'm using commercial financing, the LLC is not helpful.The only place it makes sense for us is on the development-and-sale side (meaning, new construction), but that's a different story.

This allowed me to develop systems and practices that were focused on quality not commission.

In my day job, I am a corporate and securities lawyer and I frequently help real estate developers structure the legal entities they utilize for the investments and also comply with federal and state securities laws in connection with bringing on investors.  

I have been investing for about a year now and have developed a criteria and spreadsheet that works for me when analyzing deals.

Started in the construction side of things developing large commercial projects back in 2009.

So talking to them face to face shows them you are serious and you can develop a relationship with them as well as finding out exactly what they want.

Once the developer pays operating expenses and the senior debt payment all income must go to pay the fixed coupon of the mezzanine debt.

There is a good meetup I attend sometimes on Madison and 29th, next one is October 19th, here is the link: http://www.meetup.com/Multi-family-Apartment-Developer-Real-Estate-Investing/events/226004935/.  

Originally posted by @Sean OReilly:...can be good opportunities for me to go in, lower rent and recover utility costs  My first impression is that this will be a break-even (- lower rent, + utility billings), and that you will not get paid for your development and implementation costs.