No problem, we roll with it, some excuse about City water and City inspection and compliance issues, but we were assured it was no big deal.

The bank (I assure you) expects their money regardless of your tenant situation.

I assure you there are people in your area of nc that have that kind of cash to loan.

I can assure you, I do not plan on cutting corners, just want to make the best decisions possible.I know it has been recommended by all on this thread that I skip the LLC and just purchase it personally and get an umbrella policy for liability protection.  

Attorney:  hey, we will issue it, but it takes another week or so, but I spoke with both underwriters again who assured me clean deal.  

I was able to connect with my attorney who assured me that there are work-arounds and that this can be handled. 

Identify top notch PM - preferably in house or in close affilation with the turnkey company.Go visit the area and meet with those you are vetting, view properties, neighborhoods, and meet with several players in that market. 

Most women say it will only be them and their kids living in the place, but rest assured that  is not true!

If you're not paying cash, the PITI would eat up that 5% almost assuredly leaving you without cash flow.

But I can assure you Shalay, there is considerable misinformation on this and any website dedicated to a specific industry or profession too and understanding that is important.