Offering $450K would leave room to cover the $50K in repairs, and since market rents support a solid increase after updates, this could boost your long-term cash flow significantly.

Second, I have experience with hundreds of pet owners and it is very rare (in my market) for pets to cause more damage than the deposit will cover. 

This was so important to our business that we covered the cost of these consumable kitchen supplies for all our owners.

Lease Agreement: Use a compliant, detailed lease covering rent, rules, and responsibilities.2.

Mostly worried that even if I find a place and the money, that I'll be making a big financial mistake and have little left to cover unexpected costs.

Texas offers a diverse real estate market, from the tech-heavy Austin area to the sprawling suburbs of Dallas and the oil-rich Houston market.

If they can make enough just to cover mortgages, with the high appreciation of the properties, it's a great investment.

I’m collaborating with an investor who can help cover the remaining balance, but since the property isn’t in the best shape, and maybe fairly priced, but I’m evaluating how much room I might have to negotiate.

Would recommend documentation to make sure you’re covered if you have to go to court to evict.

Violating these rules can lead to severe IRS penalties, including disqualification of the tax-advantaged status of your retirement account.Each self-directed retirement account must have sufficient funds to cover all property-related expenses, as you cannot personally pay these expenses.