Advice on Turnkey Investing

[Elaine Hester]

I just watched this great BP video: The Top 4 Reasons to Never Invest in Turnkey Real Estate ... although he has some goods points, there are situations where turnkey might make sense and I'm wondering what the BP community has to say about turnkey investing in general. 

Here in San Diego, we live in a market that is currently out of control and cash flow is just not happening. If I want to buy and hold properties, I need to be looking at equity markets out of state. Although I currently manage my own in-state properties, it only makes sense to hire a property management co to handle an out of state purchase. This is why I'm considering looking at turnkey opportunities. 

With turkey, I can fly into a market (Indianapolis for example) to personally check out properties, then any renovations needed can be handled by the turnkey co while they also take care of getting and keeping it rented. It would be nearly impossible for me to take care of all of that across the country, but this way I'm actually getting cash flow that I would otherwise not get in my own market. Is it such a bad idea? 

I would love to hear from people who have actual experience with turnkey investing and whether it' has worked or not worked for them.

Thanks in advance!! ツ