I've been looking at McKinley Park Neighborhood which is just west of Bridgeport which has been getting better with newer single housing construction being done near Pershing and halsted.

I think you re asking the right questions, looking at the BP marketplace is a good way to begin your research and drilling down a solution that aligns with your goals.Turnkey comes in different flavors, ultimatley it is suppose to be a simple entry in RE without having to construct your own infrastructure, for good passive investment cash-flow.Main takeaways: Turnkey comes in different flavors: Simple Passive Income - the Turnkey home is direct purchase from the supplier, it is operational and managed by themStreamline construction and uniformity materials for maximum economies of scaleResearch the area, visit the space possibly, meet the teamI hope this helps you a little bit more as you try to define the type of culture you seek to align yourself with.

Sounds like you understand construction so get a good feel for needs (roof, porch, etc) and just build out in excel the aglow over time and when you need the big capex spend for these items.

I am new to the flipping world but I have a lot of construction background and I even finished half of my basement myself.  

If any one is an investor and needs help on their properties, lots of construction background.

For example, if your total construction costs (land, soft+hard costs, etc) is $150/sqft and you can sell your house for $200/sqft, then you make $50/sqft regardless of whether you build 1500sqft or 2000sqft.But what I have to assume is that at some point, the payoff is no longer linear and I'll begin to hit diminishing returns.

.), we can call it a "renovation" and you can avoid the hard money / construction / commercial financing. 

My Wife's a Property Manager and I'm a Construction Manager we've been in the industry 18 yrs each.

That is with a heavy construction background.

Regardless of what I had I felt more comfortable in the construction business.