You definitely should network with them.Relationships are very important in this environment.

Invest in comfortable furnishings and amenities, and add small extras that can make a big difference—like coffee pods or local snacks.

But if you’re looking for a more stable, family-friendly environment with lower costs and a focus on LTRs, Texas could be a better fit.Since you have young kids, I’d dig deeper into school districts and neighborhoods in both states—family life can really shape where you’ll feel at home.

Congrats on achieving a comfortable financial situation.Condos are actually riskier than single family rentals. 

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

In the current environment, it might make sense to rent for a year or two before you commit to a purchase.

Keep detailed records of income, expenses, and improvements, and choose the right filing approach based on your comfort level with these rules.This post does not create a CPA-Client relationship.

Vet potential partners carefully and aim for relationships that can grow with your portfolio.In this higher interest rate environment, focus on cash flow and creative financing options like the HomeStyle rehab loan or seller financing.

I like to look for locations that are good, and that I’d feel safe and comfortable living in if I was a single woman with a couple of kids.

So, it's still a viable way of investing, but does not have the same scale of success in today's economic environment in higher appreciation markets.