You will need cash to buy and fix, your chances of traditional financing are slim unless you take out a loan from Aus.Have you figured out how many rentals you need to be able to retire by 30? 

One thing to test out as well is buying 4 units instead of single families.

Any suggestion on an experienced and well tested lease form for Texas (inclusive of the addendums) that I can leverage?

If you'd like more information about my company or me, I'd be happy to answer questions below or my profile has plenty of information.First Property: Sheridan, San Bernardino (The Test Subject)My very first investment property was purchased as a short sale.

Any help would be greatly appreciated, this is a test I'd like to pass with flying colors.

Reading everybody's stories and learning about all the different ways to invest can be quite invigorating - one can only sit on the sidelines and absorb information for so long , before it's time to go out and put it to the test.

Think about what regular testing and maintenance will look like as well.The challenge you'll face, is that assisted living facilities in some instances (depending on the jurisdiction) fall under medical facility coding and are required to have higher levels of protection to comply with state/federal programs.

We've been working with institutional investors and private real estate funds to test our product.  

@Jeffrey SullivanI'd like to share with you your numbers from what I punched into my spreadsheet.Also, (DISCLOSURE) I did a beta test for an app that is on iOS and Android.

Here's why:it's long enough to test the cooperation of the tenant and their ability to be amenable to others.it's long enough to avoid becoming a transient boarding facility.it's short enough to be able to issue a notice of non-renewal.AND it avoids a tenant paying rent for just one or two months and then squatting on the rights of their lease w/o further payments.IMO, a long term lease ONLY benefits the tenant.