You're in Texas, which other people have commented is a gold mine.

Good point, if you have plans to sell in the near future, could be better to wait.

The recipient inherits your original cost basis, which is used to calculate their future capital gains when they sell the property.

Rock that for about 12 months and add some equity and then you could refi out to conventional so as you pay it down in the future the mortgage insurance will drop off.

It seems like the perfect place, BiggerPockets, for finding people who are like-minded, asking them questions, and learning how to become a future investor.I believe that no matter how unforgiving the market may seem, the right tools, knowledge, and preparation can help minimize risk and create opportunities.

Cheap properties in Milwaukee are fools gold (especially for OOS investors, people literally will scoff at a rough listing and then someone will say: eh, someone from CA will buy it..)

Not to mention the economic development steps the town is taking in ensuring the growth of town (roads, schools, zoning) stays on par with the future expected population growth and new jobs that are going to be a result of the new factories opening.  

I would recommend you and your husband get on the same page about future investing goals.

It establishes a base that's $40 lower, which all future rent increases are based on. 

Dscr will be useful in the future for fixer uppers and unique buys.