I refused to sign anything until the specific question I had was answered.In particular when we started the "Notary" had no clue as to the status of title insurance or whether or not title insurance had been purchased by the seller (a condition of the agreement).So the 3rd page of the closing documents was "buyer acknowledges receipt of title insurance...."

If you don't have one already, it's a nice (but cheap) upgrade for about $60 - $80 that all your tenants will immediately recognize that the new landlord upgraded the entry way.From my work, I know Texas is a little tighter on regulations with tenant screening in case you decide not to renew those tenants in May.Make sure you have screening criteria setup for the property and you give each applicant your criteria and have them sign an acknowledgement form that they received your criteria.- Eric

Your spreadsheet won't matter after closing...but your cash flow will matter.Brandon used the estimated life of new components for simplicity purposes and he acknowledged the need to use the remaining life.  

@Sujan BasnetFirst, you should acknowledge that if you co-signed that you are responsible for family member payment if they fail to do so. 

If you acknowledge the debt or make a partial payment you re-age the debt again.420 Is very, very low.Once  a year you get a free report www.annualcreditreport.com You can dispute from there accounts although they do not give you the credit score it doesn't matter.

Get an acknowledgement from each party to sell or have the court direct the admin/exec to sell.

A better estimate of cash flow, especially with a property manager, is "cash flow = rent / 2 - P&I payment".I will acknowledge some folks buy cash flow negative properties speculating on appreciation.

This isn't 2005 anymore so I don't know why anybody would still use Rent-O-Meter given all the problems you yourself acknowledge that it has- it doesn't differentiate between a apartment vs a single family home, doesn't factor square footage, doesn't  factor in bathrooms when there's a big difference between a 3 bedroom with 3 bathrooms vs 3 bedroom with only 1 bathroom, etc...Zillow  isn't guaranteed to give you a perfect comp, but I feel that their algorithm takes all that various factors into account which Rent-O-Meter doesn't. 

I just make sure we dont borrow from little old ladies who don't understand the risk, there is no amount of disclosure that will keep you out of trouble if you do that, even with the best written disclosure signed and acknowledged by your lender. 

In the state of Texas, the realtor must disclose that to you and have you sign a form acknowledging that fact and giving your consent for them to represent you as the buyer, if they are also representing the seller.