A turnkey property investment means buying a real estate that has already been renovated before it's put on the market, is ready to move in, and can be immediately rented out. It is a passive real estate investment with no leg work required to be done by the buyers. Everything is done and managed for the buyers by a turnkey real estate company.
A turnkey property is a potential income-producing property because it has already been fully renovated and can be put on rent for a passive income. Like any other real estate asset, a turnkey property can be easily acquired, and the process is similar to purchasing your own single-family house or a condominium.