The numbers sound good, my question is why would you not get all of the capital from one source? 

So I met with the owner today,He is SPECIFICALLY looking for a long-term loan, he wants to give his (much younger) wife a steady source of income after he is gone. 

What I mean is you’re not looking to make a Notes your primary source of income and turning it into a business. 

List source or county assessor?

I am considering creating an s corp or llc for the property to utilize the limited liability and tax benefits, but I'm not sure if that would be better than a traditional house hack.I've been researching various options for a couple months and gathering information from the above sources but I wanted to get another opinion on my options.Any insight would be greatly appreciated.Thank you,Monty B.

@Nelson Del Castillo What is the source of the lien.

Rich Dad Poor Dad from Robert Kiyosaki is also an inspiring book to get you in the right mental state.And besides the BP podcast, The Real Estate Guys podcast is another great source for learning as well.From a new aspiring investor to another, I wish you the best of luck in the future! 

If the float (capital outlay between draws) is $10K, but they can't show $10K in cash from any source, that's a problem.Of course, you want to know your borrower isn't a criminal or have a history of fraud.When you back out what you need, your list for due diligence becomes apparent. 

Yes you can buy 1 house but then you have 1 income stream and 1 source of appreciation.

Houston remains on the lower end compared to other major cities with a median home price between $175-223K and Median rent between $995-1500In the Top 10% for cities with the highest appreciation in the US. depending on what area between 4.42-7.21% (Houston)  vs 3.37% (USA)As of 2018 Houston is #14 for cities with fastest growth and migration from other US citiesAs of 2019 Houston is #30 out of 125 cities for best places to live in the US Sources: neighborhoodscout.comrealestate.usnews.comrealwealthnetwork.comhar.comWallethub.comcensus.gov