If you are in a higher asset class many deny on credit score which usually is not seen as income discrimination which is also fair but there are actually a couple left leaning areas where credit score rating can be seen as illegally discriminatory which is ridiculous.  

When you convert an asset to Roth you have to get a third party valuation and often they come in at a major discount..25-60% so your taxable amount is way lower than the actual conversion.  4. 

There is much confusion about the 4% and 6% in property taxes.Non owner occupied property is taxed at 6% of the value to get the taxable value.This does NOT mean your actual property tax is 6% of the purchase price for rental property,In reality property taxes are about 2% of the purchase price for rental properties and about 1% of the purchase price for owner occupied properties.Google Greenville County Property Tax estimator and play with it and get a sense of how it works.3.

@Dennis Gallagheri don't really use any rules anymore, i just evaluate the actual expenses on actual properties. 

Make sure you get him/her on your team.I believe in multiple partners on a business like this since (except for the alumni friend who actually might not have that much experience), y'all have no experience.

Also, the dirty little secret is they can make MUCH more educating than actually participating in deals.... 

I have spent the past couple years doing research and think its time to actually start.

What do other property managers consider, actually do, or add to their tenant screening criteria to cover retirees?

I mean, Texas is still a great state because of the amount of jobs, the pay that comes with those jobs, and the cost of housing here as opposed to other places around the country.However, that key word "affordable" actually has a definition to it - and that's 30% of the income shouldn't go towards housing. 

That would be your reserve fund, but you wouldn’t be paying interest unless you actually needed to use it.