Texas is definitely a strong market, but keep in mind that high property taxes can eat into your cash flow.

My monthly payments (mortgage, insurance, taxes) are roughly $3,600, leaving me netting about $4,600/month.I have four years left until military retirement, after which I’ll have a pension, some disability income, and rental income from this property.

@Justin FondrenIf your credit score is in the 700–730 range, you're in a great position to secure favorable loan terms.

• Is this a better strategy than using your own name, capital and credit to start out?

Owning has advantages that LL does not such as no vacancy, typically lower maintenance/cap ex versus being occupied by tenants, and often property tax breaks. 

Quote from @Devin James: Im currently learning this lesson with New Builds that have taken twice as long to complete than anticipated.....Finishing a Real Estate project ASAP is critical because...1) Holding Costs add up quickly- Loan Interest- Property Taxes- Insurance2) Investor Capital- Our financial projections are dependent on how fast we can turn our investors capital.

Are you able to use it easily, only with a HELOC.If you lose your tax deductions, then Uncle Sam is happy to take more of your money each year.Good Investing...

DSCR lenders are much more flexible with income requirements and don’t require W-2s or tax returns.I’d be happy to connect and chat more if you’re interested!

There could be local considerations that are tax and inheritance related.Thanks for the reply Ken.

The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.