If so, it doesn't take into consideration existing assets.

The frustrating thing as an investor is that it will probably take considerable time for things to revert to the mean.  

I bought a place in the Columbia Heights neighborhood  of DC that needed a complete gut rehab.  

While they can also be free standing we learned to attach them to walls securely after one "walked" when a tenant moved.Window units "walking" upon tenants moving is another consideration although this hasn't happened yet. 

Now I have two rental properties in the Memphis area.I was not able to travel to and personally walk around and inspect this purchase but I do anticipate being able to do a drive by in a few months and with everything going to plan also inspect my third investment property.Going with turnkey investing at this point has allowed me to put some time into learning more about taxes, legal, and probate avoidance.What I am getting out of the research... having not yet spoken any professionals except CPAs... is that: California is a crappy place to try and start a business.Using legal entities is a personal choice but if you are going to do it there are tax efficient ways.While one LLC per property may be an ideal scenario from a liability protection consideration, it may not be cost effective and grouping/clustering houses in some way (such as by location or by value) may both mitigate your risk and provide some financial relief ($800 per LLC in California).I have more interviews to do but I am leaning towards:1.

I will be meeting with Holton Wise Property Group and see what they have to offer, but I'd also like to develop a list of people I could rely on in the Shaker Heights or East Cleveland area.I'd like to develop a list of people I could meet with while I am out there.

There are many turnkey options in other markets worth your consideration. 

They also may not have the rehab experience or know how to flip a property or take into consideration what type of rehab will be done on the property.

I also took into consideration the property tax rates and the landlord/tenant laws.  

@Alex MacKenzieIf you're coming from Royal Oak I'm guessing your used to very nice neighborhoods.I'm a big fan of owning rentals in the Dearborn/Dearborn Heights market.