Russel, I am using an agent!

I guess that is kind of an amusing statement showing a "rough" estimate rounded to the dollar.  

I rent to both kinds of tenants and the similarity is dead-on, if somewhat amusing, if somewhat sad too as these students will be our future 'leaders' and 'managers' or whatever.Here's another serious point to take into consideration: litigious parents.

I am used to SFR being being tented in Northern CA.

Especially since we will be using our personal savings and/or personal LOC's for our out-of-pocket needs, we will require positive cash flow from any property we choose... and our wives certainly will require this as well :D As I am new to this type of number crunching, please let me know if this doesn't make any sense --> I am using the cap rates above as a guideline to tell me if the rental will cash flow.

I would love to use the statistic in my business plan that I am using to pitch investors and banks.

The property is in Houston, TX, and I am using the form CJM 186253v.6.I want to give my tenants the choice of renewing the 12-month contract at the same monthly rent or stay at month-to-month at $100 higher (or $50 higher with 6-month contract).I am planning to send them a courtesy text about these options, and ask them how they want to proceed. 

I am using 7% now, but wanted to get a better number.Your feedback & advise is appreciated.

You need AT LEAST 1% per month rent.I am using the same B&H stratagy.

There concern was not with my credit, but with me never have done a flip before.I now have another HML in place (had it as a backup just in case) and I chose the one I am using now because I have to come with less money to the table at closing and the interest rate is 2% less.13.99% for 6 months3 points