Help with different turnkey business models?

[Eric T.]

While looking into out of state investing, I've noticed two types of "turnkey" companies. One presents fully rehabbed properties ready to rent and others find you a property and use your money to finance the rehab. Obviously, there is inherently more risk with the latter type. However, I'm just curious as to how common the second type is in the real estate community.

I guess along with that, is there anything in particular I should pay special attention to when vetting the latter type that wouldn't normally be an issue with the former?