Especially if all the Turnkey Provider is doing is essentially Real Estate Arbitrage.

So when you talk about refinancing on a seller financed property, can you only refinance the portion you have, essentially your equity?

You’re essentially selling it to yourself at whatever price you and yourself agree upon.

There is a difference between having no cash and not putting cash into the deal.There are sponsors that put little to no cash into a deal but have good net worth, liquidity, experience and track records.That is very different from a sponsor as an example starting out that essentially has no experience and no money to invest in a deal just time and labor.

Essentially, if you get an FHA loan 3.5% down, and qualify for 5% Down Payment Assistance (DPA) that 5% DPA will cover the 3.5% down payment and 1.5% of the closing costs.

, 2) get added to the basis and essentially only have 26 years of depreciation (27.5 - 1.5 years), 3) go onto its own, separate 27.5 year timeline, or 4) something different and if so what?

Take care of anything that impacts the health and safety of tenants first, then anything that helps  maintain the property: gutters, electrical panel, etc...

@Michael Baum I only mean if the rehab is so dramatic that is warrants it one time, and the poor reviews were specifically about the outdated nature (not location, safety, rodents/bugs, customer service, etc.) 

I can essentially serve as a property manager: tending to the house (cleaning, maintenance, etc), working and coordinating with any affiliated contractors, and I can even perform rent-roll, T-12, or DCF financial analysis for you on the property, or look for other properties as well.

I would look at submarkets outside of downtown as well, given the lack of people working in offices downtown for the forseeable future, restaurants and bars essentially closed, the appeal of downtown is not there right now.