The turnkey business is fueled by people who live in expensive markets like Washington who need a full turnkey outfit to handle their investments as they can't do it themselves.

I'm a CA rental property investor (with a few out of state properties as well) that has been looking for a good umbrella insurance outfit. 

All the loan originator can do is pick the AMC (ideally a local outfit), order it, and see if someone is willing to take the order.

Turnkey is a popular investment for folks who are priced out of their own market (like NY), but you need to do the legwork to ensure you go with a quality outfit.

Things like actual vacancy rate, maintenance costs, turnover, average length of stay - any good outfit will know these stats off hand.

Any good turnkey outfit will be able to provide you with contact info for longer-term clients that will vouch for them.My primary concern here isn't the claim that scaling quickly by leveraging 10 props right off the bat can bring in sizeable monthly income (although $5k is a bit high for 10 props), but rather what the figures they are providing say about the properties they sell.If $150k gets you 10 down payments, and dp's for rentals are 25%, then you're looking at an average value of $60k per property.

The company isn't beholden to you for getting your monthly income flow started from day 1 the way a full-service TK outfit is, so there's plenty of benefit to them in terms of letting you take on the risk of rehab.

We're a turnkey outfit, so I'm using turnkey numbers. 

I’ve called some outfits like Finance of America, Groundfloor, and LendTerra, all seem legit, but I’d like to hear from some people who have actually used private money in this area, what their experience was like, etc.

Seller bought in 2001 for $175k and then put $100k into the first floor suite to outfit into a full blown medical office.