Houston Rental Properties

[Matt Skillern]

I am interested in purchashing rental property in Houston. I have read many of the forums that explain to estimate cash flow you really have to factor in expenses FAR beyond the PITI. I saw some posts that say expenses are 50% and my question was very BASIC, 50% of what, the monthly rent?

My family has been saving for years and we have the liquidity to do something. The questions are what should I do and how?

I thoroughly read the thread about lifestyles unlimited. Not knowing any thing about them, getting workers who could do rehab at a value cost seems worth it, but it also seemed like there was a lot of skepticism.

I see plenty of 3 bedroom homes in the Houston area from between 70k and 110k. I just do not know where to begin.

I am an attorney and I have my own firm so I will keep my day job, forever. I would just also like to build up other sources of cash flow.