I still use a management company but having some friends with local knowledge about the right vs . wrong side of the tracks is an invaluable asset. 

in fact i feel so uneasy about the oil and gas situation here that i have built up over a $6m portfolio in r/e in los angeles instead of houston while renting an apartment in houston...i only recently bought a small house here and a duplex... all in my exposure in terms of real estate is less than 300k out of 6m.i really do wish you all the best and hope you get it sold at a great price and hope that i am dead wrong about this city for my own selfish reasons  but i absolutely dont think the luxury market has legs in this city without some pain first.

I could be wrong?  

If you do not have a ton of money to put down, there is nothing wrong with FHA at 3.5% down. 

You may be in the wrong there but you don't want to be more wrong. 

Please correct me if I am wrong, but I thought that could be done?

But spending money you didn't know was in your account, and assuming that a tenant would do what they said and nothing would go wrong, was, well, short sighted at best

@Nicholas Lohr I'm not sure that this type of data exists, although I could be wrong.  

As a licensee you need to be careful who you listen to about real estate dealings by investors or operators, very careful because most will give you the wrong advice!

This one seems to have much more wrong.