It really was an excellent piece that was well-researched and well-reasoned.  

Average CAP rates are between 7-10% from what I've heard, but everyone will tell you a little differently; I've been looking for properties with at least 8%, but I'm a beginner so I just need to get in the game anyway, so I wouldn't let one-notch-shy-of-pristine discourage me. 

I believe I am missing a piece to this puzzle.

Cooperative RehabThe pieces to the puzzle area) costs to resell at $200K = 10% or $20K (6% commissions + 2% closing + 2% wiggle room)b) private lender loan $20Kc) private lender interest 10% $2Kd) your JV fee say $10K (negotiable)``````````````````````````````````````````````````````````````````````````````````20 + 20 + 2 + 10 = 52K --- from $200K = $148K net to sellerCompare the 2 offers - $115,000 vs $148,000No Brainer!

The WSJ recently ran a piece about the lack of financial literacy in this country, Three question financial literacy test This test designed by professors at MIT and Wharton ask some very basic financial literacy questions (no they aren't trick questions) and only 44% of college graduates got all three right. 

Consider buying some main pieces...maybe 10 or so and using them in every flip you do. 

Back where I came from, on the same plot of land they would:- Drill for oil (below ground)- Grow Cotton (ground level)- Install wind turbines (above ground)Gaining you three types of revenue from the same piece of land.

The most blunt piece of advice I can give you is that once you have a framework of knowledge, just start doing it.

I believe mutually beneficial arrangements are best and would love to pay a premium for piece of mind that a reputable company renovated and is now taking care of my investment but would hate to pay that premium just to have someone walk away laughing all the way to the bank.Would somebody out there be willing to walk me through the purchase process of a turnkey property?

Most experienced GCs like me don't want to manage bits and pieces of a projet, while the client does the rest.