@Christi Hawkins   Chrisiti here is a copy of  a PM I got form someone following this threadHello and hope all is well.

It's VERY important for you to follow these laws so that the tenant doesn't win the trial!!

To qualify for the 550 you will need the following; Purchase price has to be at least 50k total loan amount has to be at least 100k.Rehab cost can't exceed the purchase price Credit score at least 550, tax returns not required, all other docs are required.The 600 program Purchase price at least 20k rehab cost at least 10k Credit at least 600 with 3 tradelines and all required docs tax returns are not required All programs require at least 15k liquid asset to be shown in bank account prior to applying.

I currently gross around $120K per year and plan to maintain this income through the first many years of my REI journey.So far: I’m educating myself on the process of REI by reading books, following the forums, attending webinars, etc.

Before you start thinking about what to invest in, start by asking yourself the following:1) Do you have the time and bandwidth to execute you real estate investing business plan? 

We handle this way:  leases have a strict zero tolerance clause for drug and domestic violence issues. 

And this is near city center in Houston TX with plenty of land and appreciation.I try not to be a strict rule of thumb buyer but bottom line, unless it's an A or NNN deal, a property will almost never cash flow if it isn't a 1% deal. 

Find a mentor that will let you follow them through a couple deals so you can see how they analyze the deal, finance it, etc.

Congrats, and I’m excited to follow along!

I plan on doing the following: 1.PM will pay 50% of standard rent but will identify duties he has to do for 50%. 2.Develop Property Manager Agreement for emergency and routine repairs and come to terms on compensation.