Alternatively, your GC can keep you posted on progress, but having a local project manager or even a trusted friend to occasionally drop by can provide extra peace of mind.Hope this helps, and good luck with your rehab project!

There are occasional properties in the rural areas around here that I can get 95% LTV on, those areas don't appreciate as quickly but do have decent rental rates.

In small spaces I have occasionally put stackable ones.

Maybe an occasional HVAC.

There are occasionally opportunities for grandfathering if there is evidence of legally established conversions that were done previously, but no permit records exist to show it was done. 

Maybe that's exactly the right move here.. just wishing that I would be able to find deals that are a tad better to make the numbers work (ie. pencil out a small positive cashflow, to allow for the occasional unforseen issue that is bound to come up, particularly as the portfolio gets bigger)If your business cash flows well, it does not matter much. 

While my partner could visit the property occasionally, most of the work would need to be supervised remotely, which adds an interesting logistical challenge.If you come across more ideas or recommendations from others on the forum about structuring these types of projects, I’d love to hear them.

When you mentioned you did your homework on the turnkey property, if that were the case you would have had a really good idea what the property was worth before you offered on it (of course sparing the occasional rogue appraiser, which may be what happened to you... idk) and certainly before the appraisal.

And I occasionally get one tenant complaining about their neighbor.

I've been eyeing land in Central and West Texas, and they occasionally have some interesting opportunities, but some of them seem too good to be true.