@Nicky Reader that's what is probably gonna be the key to the puzzle..."

As others have said, price tenant is willing to pay is only one piece of the puzzle. 

I want to begin my real estate business because I truly believe its the piece to the puzzle that I have been missing. 

(if so that is puzzling because if the so property was so hopeless that they recommended to sell it, you figure they would want nothing to do with the property either, unless the sales commission was that important to them)These turnkeys definitely have limited exit options the first few years. 

So yes I will probably use a general contractor.However, your question does let me know that I have one more piece to that puzzle I have to plan for, so thank you very much!

@Michael Gabin Hi Michael,It sounds like you are getting ready to jump and that you have already done a good deal of legwork - people have already identified the key categories: Single Family Homes, Multi-Familys 1-4 for residential investments and 5+ for commercial, Retail property and commercial properties - and then there are the specialist areas like Hotels and Mobile Home Parks etc.Some general guidelines are:Decide on your ultimate income requirement per month or per year - tax benefits and appreciation are often factored into these calculations but if you want somewhere to start that would be a good place.Once you've done that you can then start to work on the cash-flow per unit - a good rule of thumb is $200-$400+ for a SFR and $100-200+ for a unit in a multi-family ( that's Cash flow after expenses)If you plan to diversify within your Real Estate portfolio then you would be looking at a mixture of those cash-flows to make your required incomeThat leads you to think about how you would like to manage the properties - do you want to engage management or manage yourself - this is another piece of the puzzle to decide so you can get startedOnce you've got a clearer idea of the overall shape then you would decide about the best way to organise the investments in terms of capital outlay...Basically you would either;Pay cash outright - NOT a great plan financially probably don't need to go into that!

This is the biggest part of the puzzle.

Even then, I think the builder would be slow to do it without a fairly sizable up front financial commitment from you so you can't back out.Interesting puzzle.

Ever since, I have learned that people are a big piece of this puzzle and emotions should come into the equation (in my opinion).  

Having a team you can trust is the biggest piece to the puzzle.