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

Our tenant would have a key and could assist people in through that entrance if needed.We closed, and at closing the developer signed a contract to install a door and escrowed $20,000 in the event they did not end up doing it. 

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

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

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. 

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

Don't forget 5) principle paydown and 6) leveraged returns, among others.Owning real assets in this inflationary environment is key to growing wealth, and real estate is the best asset available (in my biased opinion) :) . 

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.

However, there are good deals in both markets.The key is to know your numbers and what makes a good investment.

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