Hey Mark,Looking over the terms it seems the deal would be more suitable to a passive partner who is already earning well with their day job and is looking for an easy investment.

Lots of rehabbers here work day job and go do their work nights and weekends when city inspectors are sleeping.#3 I'm guessing if your friend did it, it was when prices were going up faster. 

The power of Rehab is what I try to get my clients to understand every day. 

Not to mention the lack of actually wanting to work and make something with your life that is prevalent these days!

This concept of local experts has been core to Auben since day one, but we don’t go it alone.

Grand total was 16k. the guys did it in two days.

Keeping the PM in-house through your turnkey provider is the safest option moving forward IMO.At the end of the day, they have your best interests at heart and want to do their best to deliver in real life the returns promised to you on paper.The grass isn't never greener on the other side and for another PM company you will just be a number and they will look at margin and making as much profit is as possible from each client.In-house PM through your trusted turnkey property is offers a different approach and in many instances comes with a reduction in misc fee's and costs.Just my opinion and wishing you much success

I'll wait a few days, think it over, get centered and take advice and if I think its still worth posting or needs to be posted, then I'll post it. 

I recently bought a property that was in a 'flood zone' and required Flood Insurance because of a loan.It made me think twice for a day or so, but after research (driving around/looking at aerial maps/talking to neighbors, I came to realize that there was almost zero 'real' risk.As you so astutely pointed out....this creates opportunity for investors that can do the research and can stomach a little perceived risk....

Somehow the property manager faked the deposits because the rent was late to the point of maybe 5 days before the next month every month both sides. 3 weeks after closing one of the tenants became my boss at work which was super awkward because then I couldn’t file late notices for rent to either side because they were related for fear of retaliation.