Austin has a terrible public transportation system compared to what you're used to, so be careful not to underestimate the time it takes to navigate this city.

The city made a terrible mistake and mixed up the addresses and said it was zoned for a 4 plex.

. ($50M portfolio) & I can tell you without a doubt it's a terrible idea to put a tenant in the property that cannot pay 1st months rent & an equivalent security deposit.The fact that many people you are talking to cannot afford this is actually a good thing.

You could charge a bit of a higher interest rate, require a decent down payment and discuss that you’ll be there to give advice and help, but they are responsible for the whole ‘business’.If you do your vetting properly and help them succeed, you could lower your tax bill and create a long term income.Maybe this is a terrible idea for real estate and/or you just want to dump the homes and walk away.

Terrible idea?

My main concern, quite frankly, isn't the cost, but rather their inability to predict my market or the lack thereof and how to truly overcome a terrible income disparity where I currently live.

I'm also not terribly interested in learning about marketing my deals to other investors, because if its good enough to sell to someone else, then its certainly good enough to keep in my portfolio. 

The place smells absolutely terrible.

It’s been terrible for me.

She stated that she screwed up, and is terribly sorry, and not sure how this happened or how it was not caught by anyone....but that the loan product (Freddie Mac home possible) that they are using...went through everyone, passed underwriting, and then was selected for quality control and was noted that one of the home possible policies stipulates that: Ownership of other residential property The Borrower must not have an ownership interest in any other residential property as of the Note Date, or the Effective Date of Permanent Financing for Construction Conversion and Renovation Mortgages, except as stated below.