This could also be called an 'equity play' where you are just buying the property to get into the real estate game and build equity, as it isn't cash flowing in its current situation (be it because of high interest rate, high RE prices, or whatever).  

"Cash Flow" nowadays seems to be a lot tougher than the years past with rates and home prices (and HOAs) the way they are.

Dan - I'm not buying in DFW, but I am underwriting with 0% rent growth the next two years and then growing out my rents and expenses at the same rate in outward years - typically at 2% each.

A PM can cost you 10-15% per year but they can also keep you at market rate and protect you from losses.

Same size spot ranges from $95 to $250 standard rate.

You may find that what you own already works just fine, or that the yield on 400K is less than current CD rates.  

You can also check Turno to see what the going rates are. 

However, my loan was an ARM, and is currently at 5.5%, but will be resetting within the next year to market rate.

I'm a little nervous too because the asking price is a little high for the amount of repairs that are needed, but I'm trying not to scare the owner with a low ball offer because I'm focused on getting him to finance the deal so I can get a low interest rate or no interest at all.

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