Quote from @Jake Gasperi: For people just starting out to people that have been investing for years..

I put quotes because its simple but many people make it more difficult.

Pricing in DFW probably means you wont live rent free,and will have to pay your fair share of normal rent, but you also get 3 more people contributing to your loan paydown and you get to keep the appreciation.Buy hey...maybe I'm wrong....go talk to a local bank or credit union near where you live and get a term sheet from them for financing. 

An umbrella has nothing to do with those circumstances.I think some people hear umbrella and assume it's some sort of magical insurance that will protect them if anything goes wrong. 

I have been in many properties where private pay people rented and trashed the place. 

I see people doing this wrong in Michigan constantly.

Let people know you’re buying when you get ready to buy.

Those states put together are as big as the country of Turkey, with a population of about 40 million people.

I'm sure they are taking advantage of people.

That's pretty vague for people to help you.