I focus heavily on the sell side and on the buy side only work with high net worth individuals so the newbie wanting a 400k multifamily with an FHA loan probably isn't for me. 

Yes tenants lose keys (and we can't duplicate them) a bit of a PITA to order more, but well worth it.

. $700/month HOA fee may deter buyers, elongating your resale timeline, and could push your ARV closer to the lower end of your range.

More on DSCR loans in case helpful: DSCR loans won't use your income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

@Victor Yang I am not a CPA but you cannot take passive losses (real estate activities) to offset active income (W2) unless you make under a certain threshold from your W2 (I don't recall the exact salary).That being said if it is turnkey and you can't value add to create rent growth then probably not worth it at the price

I'm not as good a professional but the work I did was mostly good enough for us to live in, and the small fixes to make it good enough for renters has been worth trying to do it myself.

Older properties can be picked up for < 50% of ARV and go up in value in rapid ways with urban renewal efforts … I’ve seen this happen time and time again and so it’s worth saying, diversification is ideal.

Nothing worth it is every easy when you start out....if it seems too good to be true, it probably is. 

They either take too long or they throw in a ton of fees before closing making it not worth it?

You have to buy more with your 1031 than your portion is worth.