Hey @Joshua D.You need closing costs, so add 5% ($25,000)Needs repair costs (unless they're currently rented) add $39,000Unless you're taking over the loan, you'll need a down payment, change 0% to 25% ($125,000)15 year AM is fine, you could also do 30 yearsManagement is typically 8% of gross rents, so pretty goodThe Rent/Price ratio looks too good to be trueMost investors struggle to reach the 1 % rule in B class areas, and this is a 3% rule.

Thank you Joshua, I will keep them in mind.

Thank you @Joshua Dorkin for creating BP and to @Brandon Turner and @Scott Trench and @Mindy Jensen for helping shape BP into what it is today. 

Originally posted by @Joshua Tobin:I'd suggest calling some contractors in your area and explain what you're trying to do and possibly trying to offer a small fee for houses that are not yet under contract in exchange for a estimate.

@Joshua D.Thank you for your reply Josh.  

@Joshua Fowler welcome!

Originally posted by @Joshua D.

Hi @Joshua Feit .

Joshua, I was hopping someone will be more knowledgeable about this subject, I also live in Katy and am trying to see how the flood will be affecting home prices in the first half of 2018. 

I owe specific thanks to @Scott Trench for his book, Set For Life, which played a big part in my decision making process, as well as @Brandon Turner and @Joshua Dorkin.I've spent the last 3 years behind a desk as an MLO for one the country's biggest hard money lender, working specifically with brokers across the country to facilitate loans on behalf of their clients, and the learnings from that position and the time I've spent on BP, reading the BP publications and forums has given me the confidence to undertake this life changing pursuit.If you or someone you know/partner with is looking for financing on any upcoming real estate investment, let me know - I strive to be of value and have an extensive lender network to ensure quick terms and reliable financing.