IF YOU'RE LUCKY, they can rinse and repeat again, though unlikely they'll be able to pull all the money out from simple cosmetic updates.

Ours is a simple 'multiple of rent' - example is "100 times monthly rent" - If rent is currently $1500 the value is 150K.2) IF someone want out, the remaining partners have Right of First Refusal.

None of that cost is currently captured in the property managements monthly statements as I have been dealing directly with the contractor and paying him directly.

Daniel,I could argue for a first flip, keep it simple.

Most people who overcomplicate it are never going to result in a paycheck for the operator so I eliminated all of those distractions once I took a large slice of my market.What I do with all people who reach out is simple.

Is this something as simple as a google search? 

Was it a lot of research or more simple than it is made out to be?

Is there a simple Property Managers book that has a chart with scheduled maintenance etc ?

@Lance Marshall The reason that I believe the lease option model is better than the simple buy and hold model is because of several reason.  

Your Money Vehicle by Jedidiah Collins, The Simple Path to Wealth by JL Collins (no relation lol), Retire Early with Real Estate by Chad Carson, Set for Life by Scott Trench, The Book on Rental Property Investing and The Book on Investing in Real Estate with no (and low) Money Down by Brandon Turner.