The grass always looks greener but no market is perfect.

Texas experiences just about every peril under the sun and more specifically over 600 separate wind/hail storms annually.  

Thanks David, yes it's a great place.... perfect middle ground between the ultra slowness of Kauai and the downtown craziness of Oahu :).

Now, I understand that nothing is perfect in the real estate business, but I am confident in this project, especially given the current status of the economy, so, where are these developers?

Your investment sounds fantastic and hope no matter where you land that you find the perfect team to support you.Best wishes!

But that doesn't mean it will be easy.No screening service is perfect.

Purchase price: $77,500 BRRRR I just closed on my cash out refinance for this property and it was a perfect BRRRR with NO REHAB...and, it was sitting on the MLS for 78 days.22061 Shakespeare Eastpointe MIFelt this was a good experience to share.Paid $77,500kRehab: $0 (already had a paying tenant and house was "good enough")Appraisal Value: $102k (75% cashed out = $76,500)"Wait, joe you left $1k plus closing costs in the deal""Na, it cash flowed $700+ a month after expenses for 6 months, I got all my money back"1st Best Part...no rehab2nd Best part...this thing sat on the MLS for 78 days***Note:I didn't go into this deal "NEEDING it to be a perfect BRRRR".

Also, they're still people waiting for another 2008 which is a whole other discussion and forum but waiting to buy at the perfect time is such is misconception.

@David Beard : I'm sure you are well versed in the risk associated with ROI, and so am I, I was making the point, badly evidently, that some might look solely at ROI and that this would be wrong, this particular scenario being the perfect example.

If it were me I would have no problem with the rent being paid like this.. and she's giving you headsup that's what she's able to cope with right now, and the storm is and has affected alot of people.. she may have family that had losses..She's not asking to live for free..