If the receipt says what it cost to do the repairs, that amount should be reimbursed.  

There is an amount that you can distribute from an IRA account to purchase a personal residence.You then might be able to turn the personal residence into an investment property.Best of luck.

I was preapproved with that amount before, but it was for a single family, primary residence about six months ago.

But if your goal is to leave your day job soon, multi family will offer more cash flow typically.

Instead of 40 houses cash flowing $200 each or $8000/month, you buy 10 houses and pay them off for a cash flow of $10,000/month with 1/4th the headache.People don't understand the amount of time, energy, and stress involved with managing a lot of doors, especially if they are lower-class properties typically needed to generate cash flow.

@Thomas Farrellmiscellaneous reactions-BRRRRs won't produce cash flow - they're an equity strategy, not a cash flow strategy-OOS BRRRR on your first deal will be incredibly difficult. 

At that percentage on that rent amount I suspect it is not all inclusive, but I do not know that market.  

McKinney and Princeton have been growing a lot and it is a good place to invest, but it is always related to what you are looking to achieve in a rental investment, appreciation or cash flow.At this time that area does not offer a big cash flow and due to the amount of development going on there, rental demand has declined a bit.In any case you have to make an analysis case by case.

They are usually looking at C or D properties that local agents tell them will “cash flow“ They usually don’t cash flow because of high maintenance and vacancy.

I know they have a cap at 10.We have also looked at using local banks in the area but those terms are usually 3 years arms to ten year arms and 20 year loans so it lowers cash flow significantly.