My plan now is as you say. A

Hopefully this helps, I look forward to seeing what everyone else has to say as well.

Curious if anybody knows typical cap rate ranges for NNN leases in the Houston area, for say a corporate tenant like a Walgreens or CVS.

I require a $300 deposit per pet, but I've been known to allow, say, a $500 deposit for two cats. 

Your discount is off as well and can't say as to your rate of appreciation.I had rentals, I went to notes and got rid of most of my dirty holdings as I was losing opportunities for much, much, much better returns.Anything in this world that makes money, any trade, job, profession, investment or anything else has a barrier to entry into that opportunity.

Would the IRS say a property bought as an investment, imprroved, and held for 13 months or more qualify?

I am going to be the first one to say a deal like that is like discovering a leprechaun riding a unicorn in the back yard.

(Vs. say a financial statement review which offers limited assurance to their being free from blatant error) I bet that's where part of his discomfort is coming from.

Some people buy stuff, others invest.If you are not certain about this tenant, why not propose a short-term lease of, say, a few months, and let them know that if it doesn’t work out, you don’t have to evict because she will have no lease.

If I want to get let's say a mortgage for a house worth €100,000 I will have to put €30,000 down.