The key distinction is the bank, since it makes it's own guidelines can waiver from those with more autonomy.  

I have been trying to buy out of state investments and came across a turn key company in Memphis.

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Any turn key triplex or 4 plex that you would recommend in B class neighborhood? 

With your full time job, I would buy a turn-key or nearly turn-key multifamily with an FHA.  

So, without the key control, you still have different sets of keys for each apartment, right?  

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However  he is a key player on our team.

Key to it is the same as painting, the prep work that goes into BEFORE and the quality of the job itself.  

The simplest is to work with a turn-key company, which has all the elements in place from finding the property, to rehabbing it, to placing a tenant, to managing it.