I’m a Portland-based real estate broker and work with many investors navigating cross-state purchases.

Has anyone ever purchased a property from Omni Key realty in North Texas?

Find a mentor that can help you through the purchase of your first house hack, and get something you can fix up off market directly from the owner.Use the help of the mentor to find out if it's a good deal and to help you understand if it could work.  

Purchase price: $90,000 Cash invested: $60,000 Buy and hold that I still have to this date.

The best option would likely be a construction loan, which can cover both the purchase of the land and the build.

It seems that if you can find a good deal on the purchase price, are willing to do cosmetic updates (floors, painting, maybe a kitchen) you can get that 100-200/month cash flow.  

The exchanger purchases buy and hold real estate occasionally 1031ing when appropriate. 

Hi Troy congrats on your purchase, which it seems you purchased at a forelcousre auction.

I recently purchased a property in Fulton County.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).