Instead they go about it a** backwards and add more red tape and more complications costing the city and it's residents more money

I found it an enjoyable read about his journey into notes, but out of roughly ~180 pages only the last ~40 discuss notes and even those are very general and don't go into any number crunching. 

You might go by the Dallas HA office and see if you can speak with someone to see how they determine rents or see if they still have their landlord seminar. 

Lots can go wrong... 

So if the house is worth $500k once finished, then I'd go for it.....But first, talk to a Realtor and a GC.

Sounds like the person knew what was going on with their credit report as they have filed reports in the past. 

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Once you go with a minimum 6 month lease your turnover costs, potential damage, make ready costs, repainting and repair costs, all go down dramatically.  

I'm happy to go walk the property and take photos and provide a simple report of the information you want to help you make a decision. 

Quote from @Tyler Garza: Deal :Duplex Home2 beds / unit2 baths / unit3,000 sqftAsking 300k60k downEst rent/yr - 31,2005% Vacancy20% Op ExpenseMortgage 240k assuming 7%Results: CF - 6,600Cocr - 11%Cap - 8%Looking at this for a buy and hold and trying to determine if I am analyzing this right For the best rates, to get near the 7% on a 2-4 family you are going to need to put down 25% instead of 20%.