- We look at as free legal advice to make our lease better:)

In short, it's usually practicing real estate without license, but many people know how to do it "legally".

These include the following:Type of loanYour credit historyType of mortgageDebt-to-income (DTI) ratioLoan-to-value (LTV) ratioThe property typeEven if you have enough for the down payment, your lenders will require you to meet certain criteria before approving a home loan.

You have the potential of something really great here, you just want to proceed slowly and not dunk your money until you can legally confirm it will be your return on investment.

By not engaging a listing agent, you not only take on the challenge of dealing directly with buyers’ agents but also increase your risk of legal exposure.

I couldn't find many helpful posts about if it's legal in Texas or not.

Examples of pitfalls include purchasing in an undesirable area, not understanding the market values (vs. list prices), not knowing the rental values (current and market), inheriting bad tenants, buying a lemon, going rogue on renting and management with no contacts / systems / no legal understanding of PA and Municipal landlord-tenant laws, not having trusted resources and contractors in place, using out of state lenders or shaky financing, throwing lipstick on a pig when renovating a house and wondering why it's ARV isn't increasing, tenants are renting, etc.

Consider working with a lender to get pre-approved for financing, as that will give you an idea of your buying power.

Many people say "I know for a fact none of my family has judgments" but family members regularly do not discuss their financial problems with other family members, may be unaware of legal issues and their standing, and there also could be fraud.You should also consider any prior spouses among the parties that ever lived at the property as a marital interest attachs regardless if they were on title unless resolved by express court decree (in which case former spouse should join the conveyance).An attorney is not required - though you will need a properly drafted deed, GITREP form, and affidavit of consideration to record.

Most are fine with that, but a few will have problems with it and claim there are legal issues, etc..