That's why it's turnkey, it's a done for you operation, investor pays retail for the service, and it's a great service for the ideal turnkey investor, but it's not for the value-add buyer in growth phase.The Operation - Economies of Scale & EfficienciesThe bulk buying of properties is an ultimate advantage for a turnkey provider, this is the biggest value-add in the entire business model.

If so, I'm leaning towards sub2 to get the deed under my name and take over the payments, because unless I'm missing something, that just seems way easier than involving a bank/lender.And honestly, if the biggest risk is the lender calling the loan if they don't like the fact that the deed transferred, like @Wayne Brooks mentioned, I can just transfer the deed back?

Utilities are my biggest expense.

Not a bad way to do things, but after watching a few BRRRR podcasts I realized I could not only do it better, but also make a living off of that income.My biggest fear and question is how to do multiple BRRRRs in relative succession without your credit going in the toilet.I know that I can do this, and make a living off of it, but taking the first steps is really scary.

Not so today, but not too far away either...The biggest differences:Conventional - typically a lower rate, no prepayment penalties, backed by the government or agency, DTI, Income, restrictions on property types, restrictions on # of properties owned, require passing AUS, can be difficult for Self-Employed, and heavy Underwriting guidelines.DSCR - higher rate (normally), prepayment penalties with various structures, backed by private investors or capital funds groups, about 1/3 of the paperwork, very laxed Underwriting guidelines, usually no restrictions on # of properties owned, no DTI calcs, no Income calcs, no massive amount of TRID disclosures, etc...Cost-wise (fees and such, not rate), they are very similar. 

What are the biggest challenges if any that other Lenders see on the horizon in 2023? 

I'm curious to hear everyone's biggest headaches or areas you wish you could change about owning, managing, buying, selling, or researching (etc.) real estate.What would make your life easier?

I have found a ton of new material on Craigslist if you are willing to hunt.The biggest issue I can see is that if the place looks rundown as you go on until it is finished, you risk the ratings on VRBO and AirBNB taking a hit.

There are many hurdles to find one that is in good enough condition to qualify for financing and also has an empty unit for you to live in too. 

The biggest issue, IMO, is safety.