My God father told me that the housing mark in Dallas Texas is doing very well at this time.

I am a brand new “investor” that has zero dollars and zero experience in the industry(which is why I put quote mark around the word).

With that said, there is no need for a financing contingency and when your agent marks the type of financing it would be OTHER. 

I hit 1000 units right at the 10 year mark. 

Hi Mark,It's always easiest to me to work backwards from an end goal. 

@Mark Sewell, Thank you so much for your advice and your recognition.

Currently he is clearing roughly 2300/month in rent after deducting utilities, which at 115k purchase price is at the 2% mark, assuming @Joe Villeneuve's calculations of 550/month in cashflow is accurate, that puts it at roughly 23% CoC assuming 25% down payment. 

A big question mark for us however is the electrical system.

@Mark Newton send me some deals!

That is perfect for me since it will probably be close to the 2 year mark before I move into small apartment buildings.