In order to overcome the problem, the Turnkey Company would do well to, at a minimum, invest in having a 24 hr number where someone knowledgeable, actually picks up the phone by the third ring and can answer questions and deal with problems. 

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

I added Internet to the rent as an extra incentive over the competitors, but yes winter is quickly approaching and I'm getting anxious.

I think I am set on giving it a shot as me and my partner are very young and can spare the extra time and weekends. 

This property has a bigger lot, it's own parking and an entire extra duplex to it.

And, be prepared to pay some extra liens that were not recorded at the time of your purchase (weed liens, etc.).

Some more questions that came up to mind...again, really appreciate any feedback I can get:Would I get taxed extra if I form an LLC vs. self-proprietary?

Take the extra 3% for a 13% rate instead of 3 points up front and they pay you back any time less than 12 months...well you didn't really make 3 points, did you?

If the seller has knowledge there was/is water in the basement, whether it's fixed or not, they need to disclose. 

As far as haveing or creating a double mortgage that is most probably a no no but I would consult with a knowledgeable attorney even though I feel I am probably right about a double mortgage not being acceptable.