Tenant moves and you have one month of vacancy and re-tenanting costs.You release for 600 but spend 2,000 on the remodel because tenant lived there so long and lost 550 in rent.

What happens in a year or 2 or ten if the turnkey business is gone you are stuck with a property thousands of miles away with no control and as mentioned no way out without a loss 

I do have a suggestion for @Joshua Dorkin, @Brandon Turner, the podcasts team, I guess you are aware of the tremendous transcendence of all this, I am sure for many years from now, a lot of people will plan their future based in part on your podcasts, just as I am doing, so, right now I am listening to all of them, and some times I feel a litter lost in time, I'll appreciate more time references, I think they are as important as spacial references. 

Hello All,I am working on taking control of a duplex using a long term lease option.

If you want as little out of pocket, then these additional coverage's are a must.As far as individual coverage's go, without making this post several pages long, the coverage that can have the largest impact on claims being paid out is Replacement cost or Actual Cash Value.Replacement Cost will replace your property no matter the age or value of the property lost. 

Outdoor smoking tenants are the least of our problems owning and controlling assets.Frank

Joshua,Welcome to BP and congrats on deciding to take control of your future with real estate investing.

It is completely unreliable and you really have no control over it.

As far as my real estate investing portfolio i want to quit my job and become a flipper full time and use the funds from flipping to turn it into a portfolio of cash flowing property any advice here on what step or steps i should take next im kinda at a lost having analysis paralysis right now.

Establish list of critical vendors/services with summarized contract info and contact details:- Pest control (termite bonds?)