Verifying last 2 years of rental history very important!

and that was owner occ.. todays rates are pretty normal actually. what you can do if you want though is find a really good HML and let them place a loan for you making 10 to 12% while your wait for things to change to a situation that you feel you want to move forward be more net return than buying a rental thats for sure. of course no tax bene's but there really is not that much tax benefit on one rental.. so just some alternatives. 

Is it a flip or rental?

Does anyone know of a good resource for this type of rental or a good contract attorney?

But that area has a lot of rentals and is not as good as other areas in my opinion.

-----------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

That's your job. you should be inspecting the rental at least once a year and looking for things like this that could cause problems.I'm curious why your caulking is completely gone if this is "newer" construction.

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

A couple of things I like to tell my newbies-Owning a short-term rental property can offer significant financial benefits.

McKinney is thriving, but so are other parts of North Texas, and a broader perspective could reveal other great opportunities.Here’s what I’ve observed managing a significant number of rentals in the area:Bedrooms and Layouts:3-bed, 2-bath homes consistently attract the largest pool of tenants and have the highest occupancy rates.4-bedroom homes have grown in demand, especially with the rise of remote work, as tenants look for extra space to use as a home office.Square footage is less critical than number of beds and baths.Supply and Demand:McKinney’s growth is driving demand, but the quality of the location matters greatly.