I typically don't include this in my closing costs, when calculating it, however, since these are not real expenses - you will get this money back eventually.You may want to add a property inspection fee and an appraisal fee to your total.

Good and timely topic as we are doing DD on 3 properties (total 385 units) right now.Been using a combination of:- Slack- Trello- Google Docs (and drive)- Dropbox- MS ProjectWill look at Wrike, thanks for the suggestion.

They are both 5 unit buildings that are fully rented totally about $4300 a month in rent. 

Lillie Lee You need a total of 180 hours in Texas, right?

So you'll have to come out of pocket 10% of the total costs. 

I paid $88,000 for one property (20% down, 15 Year 4.125% fixed is $527 (Mortgage & Interest) + Impounds of $475 (Taxes & Insurance) + $ 129 Property Mgmt = Total $1,131. 

I think you're totally right to use leverage, that's what I'd like to do too later on, but she has very strong opinions and it's her money, so for now we're doing it her way.

Or would WE only be able to acquire 4 total?

I calculated about $400k total with $1650 in rents per side.

I may be totally off as well!