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I have involvement with single family, (buy and hold) but my goal is to enhance my knowledge of multifamily and eventually begin purchasing small multi-fam properties in Texas.

ARV $105,000 reflects the needed repairs to enhance the property condition and appeal to standard market.  

Look for ways to enhance your learning that you enjoy and put your time and money behind your drive forward to reach your goals.

The only other fact to consider is that both properties would need some renovation funding in order to bring them up to the standards of my other rentals.I am looking for observations on this approach, ideas to make it better and constructive criticism to enhance the chances of this deal going through!

But you can do different things to make them feel larger, enhance the selling price (like a large raised deck, add small pool, increase garage size, etc..).

Each home served our purposes as a primary residence for a few years, and in each case we added value through enhancements or repairs.Now as rentals, the homes are well known to us and in markets where we understand the common tenant demographic.We undertook a comprehensive refinancing of all the properties 18 months ago to lock in low interest rate 15 year debt while releasing equity to purchase our newest primary residence.Good luck with your decision and congratulations on your progress to date.

It shows on a balance sheet, can be used as collateral, can be used for credit enhancement, and can be realized pretty easily.

With cash at closing, that will greatly enhance your cash on cash return as a result of bringing less cash to the table.

It will also enhance pest attack and spread of weeds.