Evaluating a property listed by a turnkey in Memphis

[Sneha Deshmukh]

Hello BP community,

I'm a newbie in real-estate world and am interested in dipping my toes with SFH long-term rentals in Memphis. I am looking for out of state investment due to low entry capital and a renovated property with property management. My goal is cash flow with decent appreciation. Since I am not local and cannot have my boots on the ground I am looking at a turnkey who is local to this area. Below is the property evaluation projection for a B class property (zip code: 38127). Considering the high interest rate, the projects and COC return seems too good to be true. Am I missing something?