Can't comment on the Houston market, but we use property managers both in NYC and Raleigh - NYC as we're not there full time and Raleigh because the demands of my full-time job are too much for me to waste time self-managing.In both areas, I've gone through a process of interviewing several property management firms which has been a combination of me getting a "gut feeling" for how they work and getting specific questions answered. 

Leo, I think most of these issues are self explanatory, replace the shower, fix the exhaust fan in the kitchen and replace vinyl, etc.

This would bring my numbers as follows:Monthly Rent - 1500Principal and interest - 693Taxes - 1850 yr (154 month) estimating conservatively Insurance - 1200 yr (100 month) also an estimateCapex - 150 month Maintenance - 150 monthVacancy - 120 month (8%)No property management due the self managingTenants are responsible for all utilities (separate meters for electricity, gas and water.  

Don't be too hard on your self as it is the same issue with a lot of us.  

With this amount you have a lot more investment choices to self-directed your account.Hope this helps.

The look in it self.

Since your living in the building you could potentially self manage? 

I thought I would come here to post about what I would consider "my families first flip".A little over a year ago I began my start here on BP learning and self educating.

get in touch and we an chat

it was built in 1926 and it value right now is 76000, and the utilities would be payed by the tenant, but it needs a lot of work, I would do all the work my self and just buy materials, and my guesse is that once it's been remodel the value would go up to at least 100000 because it's about half of mile away from a university cumpus