Turnkey properties - are they good passive investments?

[Michael Gilmore]

Hello all - amazing group of people here - thank you for this board - I have learned so much already.
Now on to the meat of my question. I have been wanting to invest in turnkey properties as a passive investment (mainly for portfolio building for the future retirement building - and the funds that the property (s) would generate would go to fund future purchases) because I have no time to do any rehab or maintenance and I was turned onto the turnkey idea and it really peaked my interest. It makes sense in that the property has already been rehabbed - the property has a paying tenant and the property is being maintained by a property manager. I know this would cut into the margin of value but since I didn't have to do any of the rehab and I know the seller (usually the property manager) needs to make something on the deal I might be willing to do it that way. Does anyone have any knowledge in this area that they might be able to help out in? I live in Charlotte NC and have found (what appears) a great opportunity in the Memphis area. Again I am not looking to flip or anything like that I just am interested in picking up 1 or 2 homes to start but would love to know what this board thought.
Thank you