Through my years after high school, I encountered folks who chanted "Been there, done that".I always heard my adorable mom advised me to listen to people's experiences because I may learn their failures and successes. 

The GREAT investors I have encountered are very good with property-level analytics (i.e. the investment economics of a property).

However, since you're  already considering turnkey, the primary risk factor you are going to encounter is PEOPLE. 

You'll encounter tons of learning experiences along the way.

There are still stickers on the toilet and sink in the bathroom. 

Educate yourself as much as possible before hand on the development or you're sure to encounter unexpected roadblocks.

Hey BP,So, my sister seems to have encountered one of those landlords that @Joshua Dorkin always talks about giving everyone else in this business bad names.

That way if you encounter resistance in the future, you can show perspective tenants the video. 

My name is Mike.As a locksmith I've encountered a variety of routine service calls, but I've also responded to a few not so routine service calls.

He put a sticker over it, but when he moved, the owner peeled the sticker and charged him to repair the hole.