Turn key usually denotes fully renovated property ready to be put into service. pretty tough to buy the home renovate and crate a profit for those doing it all for 30k.. something has to give.either the home was bought for nothing and there fore is in the worse of the worse neighborhoods.. or there is no major reno going on and cap ex will kill you.. use the money as a down stroke and buy something at 100k that actually is renovated and tenants actually pay.

Be careful of your local laws, they vary widely on this topic.In broad strokes, there are two kinds of areas: Ones with "income discrimination" laws and ones without. 

I don't pay attention when people talk in big, broad strokes about the housing market or the economy or most other things.  

Stroke my own ego?

yeah, ego-stroke right. 

You are definitely painting with broad strokes here.

Different strokes for different folks.

Last October I had a massive stroke at the age of 59 and was in the hospital for more than 30 days.

That said, most work is done without permits (like most cities).The questions is overall pretty broad, so those are broad stroke answers.

A hard lesson for folks like us, to sit down and stroke a large check.Speaking of vacations -  I will be in your neck of the woods this summer.