@Caleb Heimsoth what did you take into consideration when identifying the turnkey company you wanted to work with?

Do not identify yourself as a GC if you're not licensed. 

I'm pretty new to this and currently focusing on 1) identifying the area I'm interested in 2) understanding how the numbers work.

Identify: Bringing the final product to life also requires you to put the right pieces in place.

Take a look at your strategy and niche, see what you're trying to do, identify how your two properties can enable that strategy, then execute.

I use a move-in sheet that identifies what if any damage was there when the tenant moved in. 

Hopefully identifying your animal and basic need will aid in discovering that.

I am running these numbers initially to identify a worthwhile deal. 

Would it be the three of us going dutch on the initial investment + rehab (33% stake each), and then each of us bringing some value to the deal (realtor and me identifying properties (focusing on flip-worthy properties that can still be easily rented post-flip), the contractor completing the rehab and then me bringing some cash as a financial partner and then with the understanding that I take over the property (and subsequent mortgage and money that has to stay in the deal) after the rehab and refinance.

You identify an area you want to buy in and then start buying every house that comes to the market.