I thought he was nuts. 

And I generally think statements that include "most successful" or "best" tend to be too generic to be actionable, because how do you track that? 

People tend to leverage too high and get between 20-30 properties before finding out the 50% rule would have been really helpful to know before they got into that range.  20-30 units purchased at the wrong numbers will eventually put someones wallet to the test.

One would want to define a market then look for TK in that market..although being competitive as it is turnkey is generally all priced the same in each market.IE 6 to 10% COC these days.. for safe secure investment.. you go higher and you tend to go into a little rougher areas.so just depends on your skill set and level of risk.

Well Steve, by my calculations, the potential rent may not cover the monthly nut on the property, so I'm just going to buy this dump property, that has low appreciation potential.  

Its the best way to know the value of every nut and bolt on future deals.

Nationals tend to be way pricey and often not even better in quality.

Also properties in nicer areas will tend to need less repairs meaning that they will more easily qualify for FHA financing.

All new windows, plumbing, electrical, roof, water heater, etc.A turn key operators definition of "fully rehabbed" or "newly renovated" tends to be slap some cheap carpet and paint and update a few fixtures and one mechanical item.

From past trips I've tended to like to spend 3-4 days per city, so in addition to LA could visit at least 2 more cities easily...