As you mentioned, networking seems to be key in this business.

I bought this property as a brand-new turn-key property in December 2022 (3bed & 2bath-1544 sq-ft).

The key will be to set up terms so your monthly payment works.

I'd love to know some average numbers for a turn key.

They would not be upside down.The key is finding VERY discounted houses.

The key is to analyze occupancy rates, seasonal fluctuations, and what type of properties perform best.

There's obviously quite a bit of diligence that comes after such as who the key principles are and their credentials/track record (both balance sheet and experience), the underlying real estate and thesis behind the investment & tax prep and audit procedures but as a general rule of thumb if the investor can't get past the first part which is understanding what they are investing in, passive investing is probably not for that individual. 

Look for investors who have capital but lack time or experience—networking on BiggerPockets, LinkedIn, REIAs, and local investor events is key.

The flood insurance factor was definitely a key consideration for me.

Buy and holds is the key to true wealth with all the benefits of depreciation, appreciation, loan pay down by your tenants, leveraging the equity, cash-flow etc etc, but it often times isn't the active income that pays the bills until you build up a portfolio and even then there's the tenant management or managing your property managers.That's why I'm involved in all 3.