The market doesn't guarantee the 7% per year.

Ideally the income is guaranteed and by an insurance policy not just a LTD management company that could be closed down leaving you in a tricky position.

I'd like to propose a new definition for turnkey.Old Definition: Buy it and receive guaranteed rent, do nothing except sit on your rump and deposit the rent checks! 

Can you raise the rents after some rehab and better debt with a 80+ credit score entity and 720+ personal credit score guarantee? 

He took one look at the place and advised us that he was willing to give my girlfriend €10,000 for it and guaranteed with great certainty that she would never see more for the place.This devastated my girlfriend.

To prevent this from happening, find a company that does both restoration & renovation, and have them guarantee their work.) - Look for companies online based on rating system, so you can see other people's reviews. - Also, it's good to see how responsive they are to your calls/texts.

I think my current agent quoted $800/year, and I'm guessing I'll have to guarantee around half of that (this flip will be done - and hopefully sold - in 3-5 months).

Otherwise your guaranteeing a clear title beyond the time you owned it.

I could either go to school and take over his business and guarantee my self a 6 figure salary until it’s eventually mine and use the money I make early on to invest into real estate and other areas to create passive income and eventually just own and run the business not work there.

To locate filing for death certificates your local county vital statistics department should have it or go to this webpage: http://www.dshs.state.tx.us/vs/reqproc/deathcert.s...For more information on transferring property after death and avoiding probate court study this webpage as well: https://texaslawhelp.org/article/transferring-prop...The dead-end your hitting you should consider it as taking baby steps.Good luck..