They will also dictate the terms of the loan, how it's filed, qualifications, etc.However, if you mean PML as in your friends/family that have NO experience in real estate and just have money sitting around...then I would certainly to counsel you to lean on some type of mentor or other experienced investor in Houston on what to do. 

What type of real estate investing interests you?

. $500 cash flow per month What made you interested in investing in this type of deal?

I have seen some offers from Main Street come through, which is one of the biggest hedge fund type buyers.I've seen offers from Offer Pad and Opendoor in the last few weeks as well.

Any type of investment real estate anywhere in the US can be sold and replaced by any other type of investment real estate of any number of properties anywhere in the US.Washington to CA is perfectly fine.  

@Cheryl AbramOut of curiosity what type of return were they promoting?

And what type are looking to buy, SF, 2-4 MF, or 5+ MF? 

REI type.  

Type Line Item Fee Fixed Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $600 Variable Fees Business Hour Service Calls $90/hour + Materials Cost + Tax After Hour Service Calls $120/hour + Materials Cost + Tax 3rd Party Coordination HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Negotiated Vendor Cost + 10% Oversight Fee  

Will depend on several factors like the type of property, type of tenants, your risk tolerance, other assets you own, your estate planning, laws where the property is located, etc.