Leaning turnkey to get my feet wet

[Noel R.]

Quick bio: 36 married with one kid. Own my home in Petaluma, California with 160k owed. Have solid stable career with pension, wife is independent contractor our combined income is 100k +. Inherited a chunk of money a few years back and have been taking my time trying to determine what to do with it. Currently maxing out all pre-tax retirement accounts and feel like I could keep on working and living and all would be ok. Big problem is I cannot collect full pension till 62 which is another 26 years. The other issue is the money I have sitting in a savings account not working for me.

Been listening to podcasts and reading forums and books. Still havent really hammered down and started crunching numbers and analyzing deal after deal. To be honest I like my job and have a relatively stress free life and not sure I want to go full board just yet. If I do decide to get after it I am leaning MF and am actually attending a free REMentor seminar this Wednesday on the topic. 

Lately, I have turned my focus on Turnkey.  I am leaning towards pulling the trigger on a 50-70k turnkey in the Midwest for cash flow. I think this might be a great way to get my beak wet without placing a ton of burden on myself and see just what real estate has to offer. I am looking to hear from anyone who has purchased a turnkey property in the last few years as well as any turnkey providers who fit my numbers. 

Thank you for taking the time to read through my post and provide your feedback.

TL/DR: 36, life is good,  have a chunk of cash and am thinking about getting started with a 10-20k investment in a turnkey property in the Midwest that cash flows and I can buy and hold. Thouights?

[Larry Fried]

@Noel R. I live up in Oregon, and have been investing OOS for 5 years.  Started with turnkey, and I am invested in the Southeast and the Midwest.  I can tell you that turnkey can be a good way to start your OOS investing if you choose the right team to work with.  Also I would discourage you from buying in the price range you mention, as these will be poor investments even if the numbers look good on paper.  Those properties are difficult to manage well, and should be left to local investors IMHO.  Rather I'd advise to focus on properties at least $80-$100k, with rents of $900 and above. Feel free to PM me if I can be of any help.