But I would definitely talk to your cpa because everybody's setup is different and there may be something unique in each situation that allows you to do something different to maximize your profits and limit your tax liability.

Your plans might change down e road if you decide to scale.For my particular situation,  I don't payoff extra debt unless it is hard money or a unique circumstance.

Read this for information purposes only, since (like all court cases) your actions are unique to you and the results of this case may not apply to you ;)Not legal advice.

I was speaking with them about the rental guarantee and it is by a third party insurance company which I found unique but interesting being that I would be an absentee investor sounds like a good marketing tool for the investor that is just getting into turnkey. 

There are also non-paying tenants in those areas, too.To me, the two keys are (1) to hold out to make sure you are getting a deal on the front end and then (2) to partner with the right property manager.Since you mentioned $20k to $60k, I will tell you that the lower you go, the more challenges you will face even when you find a great deal and select an awesome manager.  

@David Tipton  there are a few here on BP I think.I have a unique view on this... as I was brought up in the business by my dad and his RE attorney in Oakland CA. 

I have been doing business in Il last few years.. and its a very unique situation there.. were your forced to deal with an attorney.

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You are looking at something a little unique (in the size of units), and if that is the market you want to work then there may not be many of those deals out there, both for you to buy and/or for a tenant to rent, so it could be a nice little niche.

I wrote this a few months ago that goes into more detail-https://www.biggerpockets.com/renewsblog/2015/12/2...The only other thing about markets, once you select a handful to choose from, a lot of it then will just depend on your budget and what kinds of properties you like best and feel good about.