Turnkey properties are already renovated and tenant-ready, meaning you can focus on the investment side rather than dealing with major repairs. 

Renovating usually means you need money to renovate.

While adding compliance costs (filings, payroll), this structure is beneficial, especially for larger portfolios.This post does not create a CPA-Client relationship.

So that the tenant rent is providing a larger amount of return of capital. 

With your additional $100,000, you’d have a nice cushion to renovate or furnish a property like that.It really comes down to how involved you want to be and your long-term goals.

By the way, my company can likely finance your deal with 10% down on the purchase (90% LTV) and 100% financing of the renovations.

If they can build a larger home and sell it for the same or more rather then building a couple small homes why do it?

Scotia Bank in Costa Rica will allow you to open up an larger account as 'business owner' if you own your properties in an LLC but the process of opening an account is much more difficult. 

For the first time in years I’ve noticed many of the larger apartment complexes even offering the first month free to fill vacant units, so it’s clear that demand is down.

@Troy Smith If this is your first BRRRR deal I'd meet the appraiser, shake hands, and provide a paperwork describing all the renovations you completed.