Signed up less than a week ago, listened to several podcasts and have read enough to make my head hurt.  One thing that stands out to me are turnkey properties.  

I've listened to a podcast that had @Nathan Brooks as a guest, read blogs from @Engelo Rumora, and seen posts from people like @Ali Boone who seem to be on the positive end of the turnkey spectrum.  I've done more than that trying to educate myself, but those are the three I think stand out when it came to understanding turnkey properties.

I think I'm pretty risk-adverse.  I'm an enlisted active duty Air Force guy with no car payments (I drive a 2001 Toyota Sienna with 284,000 miles that was handed down to me), no school loans (I worked in college and only took the classes that I could pay off.  Finished getting a BA in Liberal Studies, but that hasn't netted me much).  The only real debt I have is the rental in Fort Walton Beach that is being rented out (and I'm trying to re-evaluate how well/bad it is doing in this thread) and my current residence in South Riding, VA.

Why would someone not want to invest in a turnkey property?  It seems to be a very hands-off investment, and smarter people than me are managing it.  It may not be the most profitable real estate venture, but isn't it better than doing nothing?  Would it be smart/dumb to buy one with cash, and refinance it after 6 months and use that cash on another turnkey property?  Those answers and negative experiences are just as valuable to me as the positive ones because I'm confused on why someone wouldn't want to do it.