@Cody James Cressey, the question from this side of the pond is "on what tax return is that property being reported on"? 

I can collect fees and then try to return for those that I don't run a background check on, but this could be a hassle and I don't want to take people's money away from them for a period of time while they would need it to get another place if I don't choose them.

Once you narrow it down look at pricing , taxes , rental rates etc. get a good return calculator to figure out what you will cash flow .3.

One simple yet extremely powerful thought quickly flew into my mind, "return to the basics".Okay, what does that even mean?

The turnkey companies are advertising properties with high cap returns in zip codes where a lot of PM companies dont do work at all.

(Again, I know some of you are thinking BRRR, and I'll return to that below).

That would be no no from legal standpoint and migh also require to file a partnership return.

In the second example, the return is 9%, which is not a bad number in absolute terms.

For example, some term that somehow increases/guarantees my return? 

The will ask for your last two years tax returns, W-2's, most recent pay stubs and two months bank statements as well as statements of other assets you may own, as well as your credit score.