My rental and primary are 4-5 miles from each other, too. 

Looks like mortgage is over $4K/month on a 30 year mortgage.Purchase Price $950,000Down Payment $70,015 7.37%Mortgage Insurance 35000Closing Costs $18,000.00 4% $18,000.00Interest Rate 4.25%Term in years 25Financed Amount $914,985Payment $4,956.82Renovations/Repairs $20,000Out of Pocket Costs $108,015Monthly Assumed % Manual InputRent $6,000Property Mgmt $480 8.00%Vacancy $300 5.00%Maintenance/Repairs $180 3.00%CapEx $45 0.00% 45Insurance 50 0.00% 50Property Taxes 419.7 0.05% 419.7Rental income tax 0.0 25% 0.0Expenses Subtotal $1,475"Annual % Increase(rent + expenses)" 2.5%1% ruleGross monthly rent should be >= 1% to total purchase price0.63%GRM (Gross-Rent-Multiplier): the lower, the better13.2Cap Rate (Net operating income (annual) / total purchase price): the higher, the better5.72%Net Income After Financing (/mo.) = Net operating income - financing costs-$432years Monthly CashFlow1 -$4322 -$3183 -$2024 -$845 $386 $1637 $2918 $4229 $55710 $69511 $83612 $98113 $1,12914 $1,28115 $1,43716 $1,59717 $1,76118 $1,92919 $2,10120 $2,278 

Is it still around 45-50%?

So you figure you can get an exit around 250k in about 40 - 45 days on market. 

I've seen some take 4-5 years, saw one recently that had been posted every month for about 10 years. 

She did not give 45 day notice of non renewal of lease. 

@Rama MulpuriFYI On a geographic simplistic approach, the closer you are to I-45 in RR and to I-35 in Pflugerville, the better you’ll be.

I believe ESF is 1pt for every 45 days for extensions. 

Unless the numbers are too tight.Although if the Cap Gains goes up to 45% or something, that would change things a lot.....

Or could he purchase 4-5 single family residences for 300k a piece?