Share rooms, stick to a strict budget, etc.

If you are speaking strictly financials, your return will be lower on turnkeys than BRRRR.

Make sure you have a strict budget and stick to it.

Commercial Brokers concentrate on strictly Commercial product, have the knowledge and expertise to lend to a deal and have access to the Commercial MLS system that many Residential agents do not have access to.  

So I will need to deal with that first but I would love any advice/assistance once that is resolved.Do you strictly deal with notes or do you do real estate as well?

I have done okay, and am now trying my hand at short-term (airbnb) at a house in Palm Springs (paid $463k, in light of the new strict ordinance which will be challenging, but so far in the black from day one with vacation rentals).   

If you're looking at 2-4 units and in some cases 5, on strictly residential property you don't necessarily need to go to a commercial lender.

You can not expect to manage their money problems.It will take a while to train them to be responsible as they have never had to do that and you will have to evict a few but in the end a more efficiently operated business will produce higher returns with less work.During the training you must strictly inforce late payments from the get go and set them at the maximum you are allowed in your state.

Or does that really only come into play when it's strictly a rental property ?

My business is run with strict processes.