Having a stress test applied to your model is also very important. 

I would introduce myself and tell them the exact model I was looking for to see if the property they had listed might be a fit.

We poured a floor a week on a 38-story building and EVERY week, the prime rate went up a point and stopped somewhere around 19%...so much for griping about today's rates.The market we were playing to was the new "empty nesters" that were emerging and wanting to sell their homes on Lake Washington or the gold course and move into downtown hi-rise living in a then gentrifying city.The only thing that allowed the project and me to survive was my "bodyguard" money partner, a Canadian bank that gave us the ability to hold ~130 units until the rates came down from the clouds and some form of rate sanity returned.

Surviving spouses who live in a property are generally NOT good sales prospects.Houses don’t have feeling; people do.

The one thing I do agree with is that I don't get out of bed either for a flip profit under $20k, but that comes with the exception of the new investor doing their first 1-3 deals where any profit is a bonus on their real life RE investment education.Thanks Will,I don't agree with your comment at all.I have never blown wind about "how easy" flipping or investing is and always stress that hard work is very important.As for selling turnkey and sleeping.You have "ventured to guess" wrong.I have one of the best turnkey companies in the country, that offers one of the best products, services and cap rates.Our reputation also speaks for itself and we have not wronged any investors to date and don't intend on ever doing so.It doesn't matter if this business model is alive or not, as long as the investors continue getting great returns for many many years which with great property management in place, I'm sure they will.As the moderator on this forum, your comment is disappointing and uncalled forMuch success

That's all we had at the time and how we survived.

I also like www.cashflowconnections.com Hunter Thompson is smart and well diversified into asset classes I like a lot for the next 10 years, Self-Storage, Mobile Home Parks and Value-add apartments on the more affordable side, NOT CLASS A.Gaw Capital is also a firm i have directed some of my private clients to review, if you want international diversity.You need some geographic and asset class diversity, and this structure is hard to beat, you could go with 1 firm, but i feel putting the hypothetical $3.5mm into 2-3 top notch, recession surviving firms is best. make sure they have been through a recession.With good operators, you should be pushing high teens IRRs fairly safely. this is VERY PASSIVE and IMHO a fairly safe way to go.I tell anyone who will listen this is where i would park my money if i wanted passive cashflow and some upside potential. 

Jay I think the base model is 39k, not counting incentives idk maybe take off 8k the listed prices with tax credits? 

We recorded a podcast with Sam, and his syndication model is very interesting.I would then begin to create a team, and select an experienced syndication attorney to guide you.

The unknown is, will they survive?