When that baseline underlying rate (which isn't from the federal funds rate as many think, but from the bond buying [in this case, gov't bond buying] as OP observed) is bumped, the first thing to get squeezed will be that profit margin (already underway).

I observed the sweaty vent in summer can I expect it in winter as well?

Great observation.

We have now received drawings and observations from a structural engineer but the type of work we need -which includes engaging with the city of Houston- is above the capabilities of our existing contractor, who is better fit for minor rehabs.

(this includes fees).2 - Find out the day of the week the court handles the evictions.3 - Before you have to evict someone, spend the day, that day, at the courthouse as an observer. 

I stress this to you because it is very easy overpaying, being careless, or rushing into things when you think you have a lot of money and I observe this quite often.

Hey BP Community, Recently when I have been observing others analyze multifamily deals I keep seeing these two terms Market Rent Discount that they are withholding as another reserve account for the property, along with another reserve titled "bad debt". 

In other words, defects that are not easily observable with careful inspection.

We set a time to arrive with the officer and have paperwork to serve the tenant; (everything you go over in front of the officer) Here in Texas they can do nothing other than observe but they do have to write a report for their department which is a great tool when you sue the tenant for damages or eviction.Good Luck keep records of every text, email at this point do not speak in person with the tenant unless you have protection and witness. 

I am not sure what the code requires here for housing, but the only post framed houses I have observed were built in the country.