Hi Malcolm, With your strategy of holding multi-family properties or flipping, the key is running the numbers carefully to match your goals.

In addition to your down payment, plan for closing costs (around 2-5% of the purchase price) and set aside at least 3-6 months of expenses for repairs, maintenance, and vacancies.

It should be relatively straightforward to begin discussing the goal-setting and planning process necessary to begin transitioning from current state to future state. 

As for the zip code you mentioned, some of the areas in there are nice due to steady rental demand, you just want to be very careful on the neighborhoods you select as some areas will be better than others.

I plan on starting out next year with a small plug and play solution to have minimum risk.

Planning to go back to the same company in downtown Dallas? 

Last I heard, they were planning to expand - as far as I can tell they cannot handle their current workload.The tenant can complain about a problem for months before it is fixed.

My plan is to add 2 - 6 shipping container type of small houses and an above ground pool at some point to make at least a section of the property short/mid term rentals.

Didn't she have a plan when she bought it?

The longest delay is the floor plans.