If you are unsure of the quality of the product you are selling than you will not sell the product.

The age is part of the local neighborhood quality without degrading the asset to an inferior condition.Here is a discussion on MFR asset classes...it gives aome key points for what makes up the quality of an asset:https://www.biggerpockets.com/forums/311/topics/797178-multi...

Now the debate of where rates "should be" would be based on the quality of product each person/owner offers. 

However, by doing so, it reduced my cost of living by over $600 a month, and I was able to purchase a fully remodeled property that allowed me to market to the highest quality tenants in the area, and I had a 2 year lease signed before my first mortgage payment was due.  

They've been a life saver, and have provided many updates and repairs to my home to maintain the value and quality of the home.

My only suggestion might be to buy a high quality home to rent and plow some sizable cash into it to make the payment livable.

But the “evidence” presented by the op is only indicative of the “bad investment” deal he had, not of the turnkey companies intentions, value, or quality of offerings.  

You should also study up on what the homes that sold have in them (your quality level of finishes should match or exceed your competitors if you want top dollar).

The rule is the same: no smoking/vaping of any substance inside the rental, garage, or any outbuilding.

If you are buying the cheapest home in a not so great area, the returns on paper look great, but you will have a lot more costs than you expect due to a lower quality tenant.