The best way is to do an actual analysis of the specific property like Chris described.

Quote from @Jaron Walling: @James Hamling I recently watched a video loosely describing what you talked about.

I’ve been focusing on the Midwest myself and have seen a lot of similarities with what you’re describing—good entry prices, strong rental demand, and plenty of value-add opportunities if you’re willing to take on full rehabs.

Establishing a basic LLC structure with multiple members for the sort of deal you describe would simply be a violation of the law that could result in massive fines, penalties and even jail time.Your choice. 

With what you describe, I would strongly recommend you do not start investing in real estate.

@Jake Baker also goes great work if you are looking to outsource. 

crap I just wrote a long response and the site went down so here is the crib notes.1. ton of competition for investor dollars so investors look for highest returns and work backwards.2. sophisticated investors look at returns as a function of risk.3. less experinced investor tend to be bigger risk takers.4. to raise money one needs verifiable back ground and a deal that is simple to describe.

Then again, purchasing a true "turnkey" property means you are typically paying a higher premium in exchange for someone else delivering you a cash flowing, low maintenance asset.I would gander to guess that 99% of people do it the latter way you described. 

well I have seen predatory.. this is described by folks selling homes that are worth 30k to someone else for 90k  and having done NO WORK  thats predatory on its face.

Can you describe 'real value'?