Searching for 1st rental...turn key or realtor/PM team???

[Brian Goodwin]

Hey Community!

I am interested in purchasing real estate out of state (live in SF) and was leaning towards using a turn key outfit just for simplicity. I understand that there are some good ones and some bad ones and have done a lot of reading/research, and ultimately feel comfortable using a few outfits that are out there (i.e. Memphis Invest, Mid South, Elite Invest). 

I also understand that I would be paying full retail price for turn key, but if it's truly passive with a good PM and good tenant (i.e. Memphis Invest with a 2 yr lease with hopefully minimal maintenance/repairs and an average tenant stay of 4 years and 4% vacancy) then it is probably worth it for me.

I also understand that if I had a realtor/PM team "on the ground" I could probably find a property below market value, but then would need to have the realtor/PM team fill in the gaps (possible repairs, possible vacancy, etc).

Things I am looking for: hands off (passive), decent cash flow ~10% after all expenses (mort, interest, prop mgmt, prop taxes, repair/mait, util, vacancy, etc), and QUALITY tenants.

Are there any realtor/PM teams out there that you can recommend over using the turn key providers???

Really appreciate any feedback...thanks,

Brian G