These properties typically turn over once a year as they are mostly student rentals. 

For example, a buyer putting 20% down on a $500k home would pay around $500k in interest over the 30-year life of a typical mortgage at a rate around 6.5%.

I typically don’t read a post that long but yours kept my attention. :-)

.- Over a 10 year period cashflow will increase as rents increase (rents typically rise faster than property taxes, insurance, etc.)- The property should be appreciating, if purchased in a good location, increasing the owner's equity/wealth.- Rents will be paying the mortgage off, increasing the owner's equity/wealth.- If you hold a rental until death, you can pass it on with a stepped-up cost basis, limiting captial gains if then sold (limited by inheritance tax limitations).Too many newbies on this site trying to replace their day job income via "passive" real estate investing w/o digging deep enough to understand how it really works.

The profile of the typical Houston traveler is someone coming in for work.

We typically do 4-5 years interest only while paying down the principle balances over time.

The more properties they get on their marketplace the more money they make so they are basically a glorified MLS because they are marketing themself at a discount to the typical real estate transaction.

Condo's are usually on the cheaper end of cost for appraisal reports, typically not $750 (but if it's a high end condo or in an area with there's some complexity, the fee can reflect that). 

DSCR loans typically take 21 days to close.

When you leave, a duplex will typically generate more cash flow as a long term rental than a single family home.