Why are the sellers selling a turn key property if they were making good money?

These people are lending you money.

Remember that you can only get one home equity loan per year, you can only have one home equity loan on your home, and you cannot convert your home equity loan into a different type of loan, so choosing the wrong loan can be an expensive mistake that you cannot quickly fix.Time Factors: If you need money quickly, don’t forget the schedule for closing a home equity loan, and make sure you will have time to complete the process, close on the loan, and wait through the cooling off period before you have access to the money.

The only real opportunity for "surprise" is in a situation where the market is split between expecting different sizes of cuts.

So, the real answer to your question will vary from city to city.

I was planning on putting aside money each month to go towards renovations each time someone moved out.

Hey @Inigo Alonso Gago, I hope you are finding success in my home state of Minnesota.Obviously govenment-backed loans make real estate operations more profitable in the US, but if no profits were possible in Spain the entire rental market would collapse.

I also attended the Real Estate Elevated, as others did (but here in Silicon Valley).  

You need to ask a real estate attorney about your question but just a thought before you go that direction. 

I'ma was getting burned out, and I started hating real estate.Here's the deal:67 Units, $12.2 million, 2019 vintage, mix of SFH & Duplexes.We bought this deal from the same seller who sold us a 62 unit last month.