Turnkeys aren't perfect and a TK buyer should know that they need to a) do due diligence on the property as thoroughly as any other property and b) they need to be ready to step up and manage something (likely the property manager) if things aren't going well after the purchase.I'd imagine some people will say the pitfalls are based on inaccurate advertising by the turnkey provider or the rehab quality not being up to par or something, but the reality is--those things happening should've been checked up on during the due diligence period by the buyer.

I was just here about 8 months ago looking for advise about stepping up and investing in the greatest country of United States of America. before I continue, just a bit of myself...

I look forward to growing my relationship within this community & pushing forward with this new step of my life.

Hi @Chad Shell, great to hear you are taking the necessary steps to your first rental purchase.

worse thing you can do is exactly this  HELP i got a LEAD and don't know what to do .I think people that do this are getting the cart before the horse.much like learning to fly  its easy to take off but yoiu need practice to land.

. (-;  I can't speak for others, but a good securities attorney will help you figure out the cheapest and most practical way to do your deal and then offer you services that meet your needs, versus trying to jack the services to the highest fee, regardless of what the client needs.

@William Danielson the first step is getting a solid property manager who understands your limitations.

Know what your next step is if they refuse to comply and be prepared to implement it immediately.

My next steps will be analyzing deal after deal and hopefully throw some offers out there soon.  

My property manager is practicing real estate without a license in California.