Each of those scenarios has a big investment component, and many members of the Bigger Pockets community could give you excellent advice about them. 

It's actually as follows:Fannie Mae is expanding the definition of reserves to include all components of the monthlyhousing expense (PITIA), including: principal and interest, hazard, flood, and mortgage insurance premiums (as applicable), real estate taxes, ground rent, special assessments, any owners’ association dues (excluding any utility charges that apply to the individualunit), any monthly cooperative corporation fee (less the pro rata share of the master utility chargesfor servicing individual units that is attributable to the borrower’s unit), and any subordinate financing payments on mortgages secured by the subject property.For properties 5-6: six months of reserves on the subject property if it is an investment property, and six months of reserves on each other financed second home or investment property.For properties 1-4: six months of reserves on the subject property if it is an investment property, and two months of reserves on each other financed second home or investment property.

The work turnkey has been used and abused but simply stated all major components have been replaced, the home has been renovated to 2020 standards esthetically and to code, and will attract a highly qualified tenant.

Our first handful of deals did not really have a value add component but we both realize that is the next logical step. 

@Eric Metz@Eric PinterEric Mentz, thanks for sharing.Eric Pinter, I think this is the key component which makes successful TK companies with long term visions successful.  

Financing and loan terms can be a critical component to supporting cash flow or incentive on multi unit or commercial properties..

-It seems there is also a personality component to this question. 

If you do it this way it's going to take a lot of time, and that can be a detriment to you and your business.

What if a key component of the contract gets misused in translation?

The city of Portland also recently passed inclusionary zoning mandates that require any multifamily development that has over 20 units include 20% of affordable housing component.