I got snacks plus goodies from my favorite place Bath and Body Works!

My advice for start up builder is U need to pay cash for the dirt to get your best loan terms.. also going to have to partner with a GC that has good experince your GC is going to either make you or break you as noted above.

The rent to price ratio's look really good for Texas (as well as compared to national levels) and my models cashflow at 20% down if the rate is at 5% or lower, really at the current rates its more breakeven but there Refi potential over the coming years and there is appreciation upside in my opinion with the new Tom Thumb, HEB, and Target breaking ground this year making Forney a more classic style suburb.

I am looking to at least break even in California.

The potential issue is that he may have gotten his interest rate when rates were lower and you may get the deal at a higher interest rate which can potentially have the deal at break even or at a loss.The quality of the deal will depend on what your net income is and what you are putting into the deal.If in the above example and you have the same net income, the deal sounds amazing if you are putting in $200,000 because you have a 10%+ rate of return.But if you are putting in $2,000,000 the deal is horrible because you are making 1%

As mentioned you can do a lot with outdoor space without breaking the bank.

Personally I think you have to look at it two ways so here are my thoughts on it.1. investing IE passive which to me is buy a rental let the tenant pay it off get your tax breaks etc etc.. although I fully understand being a landlord is NOT passive by any stretch but your not building anything just letting the property percolate until you dispo it in a few decades..

Real estate taxes $1200 per month on a $350,000 property(seriously) In Cincinnati, when you pencil it out, the break even point for a 4 family is about $85,000-$100,000 per door.

This will break down their annual tax liability. 

Not only is this clearly something that tenant is doing , but the plumbing is hooked up to a septic system and septic systems do not break down tampons.