A turnkey property is a fully renovated home or apartment building that an investor can purchase and immediately rent out. It is a move-in ready home that doesnt require any major repairs or improvements before it is livable. Turnkey properties are often purchased from companies that specialize in the restoration of older properties, and those same firms may also offer property management services to buyers, minimizing the amount of time and effort they have to put into the rental. Turnkey properties are advantageous for those looking to invest in real estate for the first time, as they often come equipped with all of the necessary amenities, making them a hassle-free option. Compared to more traditional methods of spotting new rental opportunities, turnkeys can be easier to find, particularly for newcomers to the real estate industry. However, turnkey properties may not be fulfilling for those who want to put their own time and touch into the care of their home. Ultimately, purchasing a turnkey property can be a great way to enter the world of real estate investing while minimizing risk and ensuring you get move-in-ready rental properties with cash flow potential.