I obviously needed to fix the air conditioner prior to renting the property because central air would be considered a 'must-have' at the price point I was renting at.

As it turns out, I have a prior commitment on that day.

Many properties are sold without mineral rights in Texas.My guess as to the issue is that the owner of the mineral rights has the right of ingress/egress and they have no responsibility to of placing any lands or improvements back prior to their use.

Get the payout terms IN WRITING prior to getting too far down the road with them.

I'm just looking for a logic check, not actually trying to get to the exact $ on this.Idea Take a 401k loan @ 4.25% to pay down the principal enough to get me under the 78% threshold on month 60.Month 60 with no additional payments made prior I would be at $149,800 or 90.7%. 128,700 is the magical 78%.

It seems the best/most common method is to sign a Promissory note, they will wire the money to the title company prior to closing and receive a Deed of Trust at closing placing a lien on the property.

So I recant my prior post :)

I asked why and he said I can't say "no prior evictions" and I can't ask how much someone makes, as it is none of my business, along with a couple of other things like that I can't run a credit check.

Finally, #2-#4 are essentially rinse & repeat: you will have to qualify for each subsequent property considering the debt of prior mortgages, but you will also get to use 50% of existing rental income.

If they are a fit, proceed to a showing and application.We have a 10 unit apartment situation and frequently are given several potential tenants by our current long term tenants prior to any our marketing (sign/craigslist).