You might need to use a trigger mechanism.

My Mechanic/Friend who works from the garage in the commercially zoned house he rents pays 995$, but its much smaller and much less "professional" than this place.

This is only something you do locally, and that I assume would be the DFW area for you – max.The rest, such as the paperwork and avoiding usury, is extremely mechanical and can easily be covered by an experienced attorney and mortgage broker, whom you’ll need.

Clean and well maintained but nothing more.With my apartments I explain maintenance versus upgrades to the tenants.There will be no upgrades only repairs to existing appliances,mechanicals,etc.The tenants have to accept it or move elsewhere.I looked at hiring exterminator,contractors,etc.

The mechanism is tied to a couple key things, the main factor being reserve capital quotients, which is then tied into the market movement of lending as a whole.

On paper the mechanics look easy, but implementation can be very time consuming.For example: I may talk to 50 people in one month looking at say 60 or more properties that can potentially be a good deal.

Regarding 50% and 2% rules, they are great rules of thumb that I did use and considering I have the property and complete rehab with new mechanicals systems for less than 24K (cash), I can say I fit comfortably within the "rules" criteria.

Collin, You're going to want to go through the property and make sure all the mechanical systems, foundation, roof, etc. are all in good working order.

There are plenty of auto mechanics who operate their garages under an LLC or corporation.

Many investors wrongfully assume ARV means paint and flooring, but it also means brings HVAC/mechanical, plumbing, and electrical up to current standards.