Clarification on turnkey definition

[Trevor Lohman]

Hey guys, I've posted a few deal analysis reports on properties I've found on the MLS or from an agent OOS I've gotten a lot of "don't do turnkey" which I'm sure is good advice generally. My question is though, if I find and buy a property on the MLS after making lots of offers and getting what I consider to be a decent deal, and then I find a property manager to manage it... is that turnkey? I put it all together. Granted it's not much work but I guess i thought turnkey was a little different. I thought turnkey was when someone rehabs a house, puts a tenant in it, then sells it to me. Maybe it isn't much of a distinction I guess... because either way I'm paying retail for an out of state rental that someone else puts a tenant in. Which is turnkey? Or are they both? And does it matter? Lol