Strong preference for properties that are close to the light rail expansion projects that are currently being finalized in Houston.Hopefully the properties are cash flow positive, but I am willing to go underwater since I am expecting at least 10% annual appreciation over 5 years.Close in properties are very difficult to find (and lock).

Agree with Jon and John.Sounds like you need long term financing for rentals.Hard money or WLOC great for acquisition and short term holds.Once you pass having 10 properties the number of conventional lenders reduces significantly.

Starting out, I let a couple tenants string me out for a couple months and when I finally got them out the place needed a full rehab.In the future, living by the adage, an ounce of prevention is worth a pound of cure, really serves the landlord well.

finally i found a small company that was more oriented to customer service and repeat business instead of sect. 32ing everyone.

They want a clean deal when they finally make a decision.John Corey

For buy and hold, I would use roughly the same contract but spell out the percentage of the net cashflow they get and the percentage when you finally do sell.

I realize the workload that comes with doing due diligence, sourcing lenders, property managers and other team members during the acquisition process.

After many delays I finally gave them a "final and best offer" of $117,300 in which I required an answer by the end of the day (last Tuesday).

I had a bid accepted on a HUD home yesterday. Same home I bid on about a month ago. Previous deal must have fallen through. Asking price $85,000, I won the bid at $88,000. Agent says I just beat out the next bid. Prev...

This posting is officially my 200 post on Bigger Pockets. Wow, I feel like I need to get a life. No just kidding.

Seriously, great site and amazing that with 200 posts I am still not even in the top 30 of posters on ...