Turnkey investment (need advice)

[Mahonri Bussey]

I am a local investor in Utah and I found a turnkey company that has properties rented and managed out in alabama (obviously far far away). I am meeting with them on Wednesday to drill them with questions about their business to try and find any holes in what they are doing but I would first like to hear from the community on important questions i should ask them and things I should be aware of and looking out for with these properties. I am also looking for inventive ways to be able to finance this little adventure so please let me know if you have any good suggestions for that.

Just a few numbers for those interested. They are single family homes (40 of them) currently occupied by section 8 housing tenants. The homes are 50k each and are renting for at least 750/month. I would have to do a loan or if they were interested i would want to do seller finance, i would want to at least buy 5 of these properties.. more if things are legitimate and the numbers work out. Thank you ahead of time.

[Curt Davis]

I doubt they are gonna offer seller financing if they are a true turnkey company.  Maybe ask them how many homes I their market do they actually own personally for their investment portfolio? If the answer is zero you might want to cut your trip short. 

If they give the homes a grade above a C you might want to roll out faster. 

Good luck