Hi, Rafael.
I've worked with many investors who began their journeys with turnkey providers. As a first time out-of-state investor, I completely understand how the upside looks on paper when it comes to working with these companies. It's easy- often the properties are already rented and managed, and you can be arms reach away from the property while someone else takes care of it.
However, it's not uncommon for these providers to charge a 20-30% property premium, considering the services they provide. You may be willing to pay that extra percentage off of the top, but at the end of the day, you do not have to go through a turnkey provider to find a rent-ready ( and oftentimes, already tenant-occupied ) property, and a good property management team to manage the property for you.
My advice to you would be to find and develop a relationship with a knowledgable realtor in the market(s) you're taking a look into. They'll be able to find you turnkey deals in the open market, and help you stay in those A and B class neighborhoods it seems that you're looking for. And, if you're working with an investment-focused Realtor, they'll most likely be looking to keep you as a long-time client and not just sell you an "ok" house to make a quick commission off of you.
If you're seriously considering Memphis as a market you'd be interested in, I'd be happy to connect with you and discuss the turnkey options I see in this market, and see if those could be a good fit for you. I also have connections with a couple of great property management teams that would alleviate that out-of-state management anxiety.
