My credit score is will over 820 and i have a 7 figure portfolio and could pay the $85,000 back in probably 10 months pretty easily without having to sell stocks or refinance properties to quickly get into this multi family investment.Thoughts?

Easily in the top 5 by all objective measures.

That 1-3 years that you are planning to spend in a 2 BR apartment could be spent in half of a Duplex that you own with 95% FHA financing, with the other tenant paying most of the note payment.That three years of equity, reinvested using Section 1031 for the next 30 years, could easily turn into half a million dollars.And your monthly expenses would be even lower.You would also be building a solid credit history.Just a thought.Good Luck on your real estate investing.  

If you put in a large enough drain system it can probably easily handle the immediate surface water.

I am a native Texan and have lived in Dallas, Austin & Houston so I consider these markets fair game as well as I can easily see myself moving back there sometime. 

Price: $320,000Scheduled Gross Income $50,400 Effective Gross Income $48,384 Operating Expenses $24,496Net Operating Income $23,888Tax: $3,654I think I can increase the rent to 55,000 easily.

You can locate that office in your living place if that location can be closed off and you will not be too easily distracted.  

The challenge with these "estimates" is that they can give a severely false sense of value and can be manipulated very easily.

MI can be easily misunderstood. 

I'm not good at telephone pre-screening...I admit it...So, from what I've read, it's important to emphasize your requirements, whatever they may be....for example, income 3xrent, no evictions, no felonies, no pets, 2 most recent pay stubs...again, these are just examples.I'm going to have a vacancy and I think it's time to admit my short comings, even though I've been doing this for years...since '94.I feel it's easily the weakest part of my landlord skills.Any advice is greatly appreciated.Thank you,Arnie