All units and common areas renovated.

@Jacob Humiston, once you build up enough capital you will be able to get investment mortgages which require ~25% down but the upside would be that you don’t need to move every year.You might also benefit from mapping out your respective goals with your girlfriend, look for the common ground and get buy in to a plan that works for both of you going forward.

From class of property, to location, to renovation and how properties are managed, the only thing that is common between most turnkey properties is that someone bought it and they are now selling it!

While we mainly do asphalt shingles, metal is the 2nd most common roof we install. 

  $200/month water/sewer/garbage, $50/month common electricity. 

Investing in any area can be great if you know what to look for and what pitfalls to avoid.Feel free to send me a PM.

Considering your experience, are there any other pitfalls in such a plan you can think may throw a wrench into the idea?

Is it common to re-negotiate after a rate-lock? 

If you are just looking at the properties listed on the MLS (Zillow, Trulia, Realtor.com) it is very common for the numbers not to pencil out in the Peoria area.  

They commonly have investment minimums and only accept accredited investors.