Turnkey Investing Questions...

[Lynn Dickinson]

Hello Bigger Pockets!

This is my first ever post here. As a late-middle-aged woman, brand new to real estate investing, with a sick husband, living (in a rent controlled apartment), in a very expensive real estate market, with a full-time job and not a whole lot of money to invest, I've been considering some out-of-state turnkey possibilities as my initial foray into the world of RE. (I believe I have enough for a down payment on a home in one of the less pricey markets.)

But of course I have questions... (I apologize if they sound silly.) I hope you'll be willing to help me with some of these? Thanks!

1. Is the price listed on a turnkey property, "THE price?"  Or do they expect to negotiate? I ask, because when I look at some of these exact properties on Zillow, they are valued at $40k-$50k less than what the turnkey provider is asking. Is that normal? Is it wise to pay that much more for a home than the area/market is estimated to be worth?

2. What is the usual, general, non-turnkey range of costs for a management company to manage one's distant rental properties? I know what the turnkeys are asking, I just don't know if that's in line with the norm, or if what they are asking is considered a high price. And is this fee ever negotiable?

3. I've been reading articles and listening to podcasts, and there seem to be mixed feelings about turnkeys - including some people who feel they have been "scammed" or "ripped off" by a turnkey provider. How does that happen and how can I avoid it happening to me?

4. Given my situation described above, does it sound like turnkey investing is a good RE starter strategy for me? (I can't really spend a lot of time/energy fixing up a place, and can't afford to buy locally - but I need to start generating some residual income and soon. My husband is not going to get well, and his care is starting to get expensive.) 

If you have RE investing experience, I would very much appreciate any feedback or suggestions you may have on any or all of the questions above. Thank you SO much for sharing your time and expertise!