Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

@Trevor WilcoxIn order to get a line of credit the lender will need to secure / collateralize it against existing asset(s).

Someone had contacted me through BP and I was able to work through them to secure the deal.

And what happens to the security deposits? 

There is very limited supply of active listings and nothing comparable.

pid=2114Houston Real Estate Highlights in August, 2024:• Single-family home sales declined 8.3 percent year-over-year• Days on Market (DOM) for single-family homes went from 43 to 47 days• Total property sales were down 11.2 percent with 8,730 units sold• Total dollar volume declined 8.8 percent to $3.5 billion• The single-family median price was down 0.3 percent to $336,940• The single-family average price rose 0.9 percent to $421,912• Single-family home months of inventory registered a 4.5-months supply, up from 3.2 months last August• Townhome/condominium sales continued to decline, falling 16.7 percent, with the median price statistically flat at $226,000 and the average price declined 1.2 percent to $258,952.

1.67% seems high (NV is 0.87%, CA is about 1%)  Are there area indications that rents will continue to climb because of shortage of supply?

Request a full handover of tenant files, maintenance records, current lease agreements, rent rolls, and security deposit information.

So much better than others that the US was exporting ventilators, masks, medical supplies to rest of world.

Did you supply the ac unit?