Another question about turnkey investing

[Rick Birkey]

Hello.

Here's the deal. I recently rolled ~$150K from an old 401K into a self-directed IRA. With this, I'm very interested in purchasing some turnkey properties. Of course, the discussions are numerous on BP about turnkey, but I have a bit of a different question (one that I have not seen addressed yet).

If you've been a successful turnkey investor, what are the specific financial criteria that you've used to select your properties.  (Let's assume that I've already selected a provider.)  Is it, say, $300 cash flow after maintenance/vacancy reserves and fully-escrowed mortgage?  Is it cash flow plus, say, $50,000 appreciation in the next ten years?

Also, do you look for a specific type of property?  3/2/2 brick fully renovated?

Your thoughts would be very much appreciated!