If there are more than a few "fix and patch' problems in a system (ie, plumbing is functional but sloppy, and needs 4 or 5 biggish repairs) I would rather just re-do the whole thing right so I can sleep at night.

It wold seems a loan function would be the better option and have the most flexibilty.

Some have retail channels...which you can do to, but many wholesale, meaning that they farm out the distribution function to brokers.

Your depreciation expense will be a function of the value of the improvements and the method you use for calculating depreciation (e.g straight line vs accelerated).As long as you have good justification for how you separate land + improvements, you are fine. 

I would encourage you to use the search functionality on BP. 

The output of the Excel PMT function.

There are many good, and unfortunately a lot of bad providers out there, but the key point is they only operate within their local market.A turnkey promoter functions much like a real estate brokerage and typically operates in multiple markets with multiple providers. 

Adding a bathroom upstairs will increase the functionality of the space and add value.

Even then, they have to follow a process of giving notice and allowing you time to repair, just like you have to follow rules if you want to evict.https://www.rentce.com/does-a-....The house was still fully functional, so you don't owe them for loss of refrigerator, bathroom, or yard.

The only other aspect to consider is if it makes sense to set up an LLC to run your property management functions out of.