Additionally, by virtue of owning all of the units I could, with the help of an attorney, construct the bylaws in such a way to maximize value and eliminate bylaws that would be value-restrictive.I've talked to a couple of non-QM lenders who could provide financing to buyers under such a scenario, but the tricky part is appraisal value, especially in a state where, according to Redfin, no co-op's have sold in the last 5 years.If I got a couple units sold using seller-financing at $220/sqft, since there aren't any other co-op comps, would this provide a basis upon which an appraiser would provide a valuation closer to $220/sqft than $135/sqft?

During inspection they found me at fault and withheld rent for 2 months (that's how long it took to re-inspect).

Manage cleaning (and inspect the work of cleaners).

Of course want better close rate but when those numbers I would be ok with 

Your income isn't high enough for it to make sense as a rental and the closer you get to your residence limit the greater pressure you will have to sell it before losing your exclusion in whole or part. 500k right now can make $15k per year income with zero maintenance or tenant risks. 

The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection which is really annoying.   

I'd only add to get a professional inspection done with a very thorough team.

I would love to invest closer to where I live in Los Angeles, but it's so hard to find good cash flowing properties under 200k.

Eastmoor and whitehall are good too because of newer home ages after 1940 where you don't have knob and tube wiring and some of the other issues. don't be afraid to look at new construction or ground up new builds closer to downtown. rentals are overpriced in these areas but build costs are low and it can be a good strategy 

I'm trying to start off with something closer to Houston as my first property, but will keep College station in mind for the future.