Buying Pre-Rehab Turnkey Rentals?

[Christopher Manus]

Good Evening! 

Quick question - I have all the pieces lined up (upfront capital and backed refinancing) to move forward on a couple buy-and-hold properties. I've already determined that I want to target distressed properties here in the Indy market in need of rehab with the goal of creating ~25% sweat equity. 

I've come across a few Turnkey companies in the Indy market which will allow you to actually purchase the property pre-rehab and you can utilize their construction crew to complete the renovations. I'm already assuming that there's a markup involved here but I was wondering if anyone has experimented with this route and if at the end of the day, the total costs involved ended up being less than market value or what it would cost to just purchase a rehabbed property - And if so, on average, how much? 

Eventually I'd like to hunt down the deals myself and manage the rehab but I've started a new job recently which is eating up a lot of my time and I'm also preparing for the brokerage exam - I figured this would get me off the sidelines until things settle down a bit. 

Any advice is greatly appreciated, thanks! 

Chris