I haven't read all the responses, but think of cap rates like bond yields, and then recall that there are people that buy bonds with negative interest rates because they can lock in their losses.In that environment, a 4.5% cap rate is incredible.

You talk about money a few times and I just looked it up and locally the 40 hours of classes costs between $119 and $209. 

Upgrading the back patios to create a more user friendly environment.

If your house is A or B class, you should definitely spring for something nicer like selectblinds.com but you don't need top-dollar, 2-inch plantation blinds in custom colors.If tenants ruin them, you deduct from their deposit just like you will for flooring, paint, appliances, landscaping, etc.

I want a safe living environment for my parents.

---So, get a GREAT property inspector NOT recommended by the turnkey company to avoid bias.2) Misrepresenting Property Class - have seen many turnkey providers in Metro Detroit area sell OOS investors Class C properties as Class B.

if it is Class A or B being new shouldn't make much of a difference if other surrounding properties are recent.  

Price, neighborhood, and class of tenant typically go hand in hand so keep that in mind as well.

Any B class duplex is maybe $450k+ so unless you are comfortable living in rougher areas it's not worth it.

If staying alive is more important than earning a few bucks, I recommend you sell the investment property and purchase a single-family home or a duplex with totally separate spaces so you can control your environment.