This analysis also excludes the appreciation gains over time which I look at purely as the icing on the cake.

Thank you.Yes as fast as possible is always what you want.This number will vary a ton depending on the scope of work involved.Generally around here I would say ideal is 6-8 weeks for anything above pure cosmetics.  

Owner occupied, or pure rental?  

Granted there are very few pure plays either way; investments with no work or jobs with no investment but by primarily putting your money instead of yourself up for work you free your time up for other things.

The pure pain of the first couple would be done for.

Seriously, I've had such a hard time getting financed (with NO money in bank) that the idea of having something to show mr. whale down @ Hand-in-your-pocket national bank and loan, just makes me jump for pure joy.

If you are just purely sub-leasing it for the rest of your lease term, then in theory the new tenant will pay you and then you would continue to pay the property manager your current rate.  

Pure and simple.

If anyone wants to buy for appreciation - that's fine, but just realize that this is pure speculation.

We have 3 personal turned rentals and 2 pure rentals with another 2 houses (1 personal/1 rental) budgeted in the next 10 months.