The reality is you need to move off a few factors---fast solutions have slow problems, due diligence, have a healthy safety blanket reserve wise. 

But there are bunch of factors to consider there. 

Cash Payment: Decide whether you'll finance the purchase or pay in full.Future Resale Value: Factor in potential appreciation of the property.2.

Should be within the last 6 months sold ideally within 1 mile. 

Insurance is now a big factor in the expenses of investment properties, even here in Reno, NV there are areas that have had large increases for single and multifamily properties.

As always, make sure to run the numbers carefully and factor in local property taxes and HOA fees, which can vary widely in North Texas.Delayed gratification is key in real estate investing, but with patience, the rewards can be life-changing.Best of luck with your search

Some of it can be temporary, but ideally you'll want to be in markets where it can be sustained (ie. have barriers to entry). 

There is the inconvenience factor but it might be cheaper for you and your friends as well.

Ideally want to break even or cash flow with the 3 tenants.

While the cost can vary depending on the scope, zoning, and materials, I’ve seen similar projects run anywhere from $50,000 to $150,000, depending on factors like plumbing, electrical upgrades, and structural work.If you’d like, I can connect you with a few contractors or architects in Chicago who specialize in basement conversions.