See below for the numbers:Home Market Value: ~525kLoan Balance: ~476kEquity: ~50kMortgage Payment: $2570Rent Price: $2650Property Manager: 10% (potentially 7% w/military discount from a referral I got)Cashflow: $-185/month, $-2,220/yr1st year Equity Payoff from tenant: $11,561It's a 4 bed, 3.5 bath home built in 2011 that only requires some new paint to be rent ready.

Our interest in the Ave F deal in Bay City, TX, was due to its low risk, requiring no renovation investment.

Both forms require the tenant to go down to the water department unless I get the first form notarized somewhere else in the presence of the tenant. 

The umbrella provides coverage over the primary policies (provided you have the required Liability limits on those policies) for those vehicles as well. 

Do property management companies need a real estate license? 

The hours working as a W-2 employee may potentially not count towards the hours requirement if you are not an above 5% owner...

Your protection is language in your purchase contract requiring the deed provide you marketable title in fee simple and a professional title search and title insurance to cover you.

Low Repair Costs: With only $2,500 needed for repairs, the investment required minimal additional funds.

Low Investment: This strategy required minimal additional investment, reducing risk.

Both options would require me to refinance and pull cash out later.