How to get started with Turnkey providers?

[Brandon S.]

Been exposed to the idea of using a turnkey provider for out-state/out-of-market investing vs. venturing out on my own*.

Just wondering the following:

• Pros (e.g., less headaches)
• Cons (e.g., eats into your returns, likely to learn less)
• Typical services they provide (e.g., tenant search, property management)
• Typical costs (e.g., flat fee, percentage of rents)
• Things to look for when looking for a reputable firm (e.g., performance of their portfolio, customer testimonials, first impressions, integrity, etc.)

Lots more to think about but just thought I'd jot these guys down! Thanks.

*I am a newbie to local investing, let alone out of state.