Questions on turn key properties in Indianapolis

[Fernando E.]

Hi BP crew, Hope you are all well I’m an out of state investor from CA and my goal for 2018 is to buy multiple (targeting 10 this year) small single family homes in the Indianapolis between $50K to $70K with minimum $500 Cash on cash return. Does this sound realistic or blowing smoke? With 1 realtor as my boots on the ground on an area that I’ve not seen, I’m starting to look at turn keys and have reached out to multiple turn key providers here in the BP community. My goal is for cash flow, I felt that if I buy one, I’ll learn by taking action rather than sitting on the sidelines . Only downside I see in turnkey is that it seems there is no appreciation and I can’t execute BRRR strategy since off the bat the property is sold at a higher price (not below 20% market value) and sometimes sold at a price way higher than zillow or Redfin estimate which tells me that the selling price is really high. I will appreciate your input and more so from someone who really made it big and achieving massive success in turn key If that is even possible. Much thanks all!