The buyer is left with some skin in the game and uses a PM company NOT connected to the realtor or Turnkey company. 

You have to be careful for one more thing what will be appraisal value at the time of purchase and what will be appraisal value after 6 month.  

They knew they were in violation and did not care.

Wouldn't invite them in the house (just because that would be weird) but am happy to get rent on time via mailbox dropoff/in person at my house or carrier pigeon...as long as I'm not chasing them around and don't have to pester them for rent, who cares!?!? 

What are your lawn care costs or are the tenants responsible?

And you want to be careful about your intent when buying and selling to make sure you'll qualify.

Hi FolksI got my CA real estate agent license a couple of years ago & currently hang my license with a local broker. Going forward, I don't intend on being an active agent buying & selling homes, so my questio...

If you can withstand 20k into each unit, and 100% vacancy over 12 months roll up, knock yourself out, otherwise I'd tread carefully.

You are in the position where I think I will excel once I have a handle on the business... having a variety of rehab project under my care and having teams working away on them. 

But I'd like to run the numbers in the scenario as I move out after 2 years living there to check the cashflow- Financing: owner occupied conventional loan - Downpayment: 5% - Interest rate: 4% - Loan period: 30 years (fixed) - Vacancy of 5%, Repairs of 5%, Capex of 5%, and PM of 10% - I assume I can get 10% discount based on how long it's been on the market (purchase price of $719,100) - I used Realtor.com from the link and based on purchase price of $719,100 it gives me prop tax of $749- I relied on the listing agent data of $92 per month for home insurance - I relied on the listing agent data of $112.50 per month for water, $112.50 for sewage, $95 for garbage, and $60 for lawn care (assuming the tenants pay for their own electricity and gas) - I left PMI to be 0 since I do not know how to calculate this Result: Based on assumptions and MLS listing, this property cashflow -$1,280.00 (aka, a horrible investment).