I loosely defining "rich" as becoming a millionaire and "quick" as a time frame of 5 years.

What you gain by not having the risk of the bottom falling out you loose by not having your property quadruple in value over the ownership of it.

Bad Stuff usually happens in real estate investing with loose tenant screening criteria and location of the asset.If its maintenance, then the home inspection report can help you out.I would be looking at all numbers before comitting more dollars to turnkey ..

You don't loose rent for money (aka "interest") if the security is good.

That didn't stop a lot of lenders from loosing money!

He sees them loose their money all the time and, as a custodian, he can provide them with no advice.

I feel ya on that but I'd have taken steps beforehand to resolve the issue without loosing an income stream.

I have much better things to do than loose money in a crappy game of Russian roulette. 

Remember step 1 is to make $ but step 2 is to keep it, what's the point of making a million dollars if your loosing 980 thousand a week later. 

Smart move, its to easy to loose money