Seems they are either very expensive or very busy these days. 

This way, our interest rate is a tad bit higher, but the properties will still cash flow well and we had enough money left over to have a good sized emergency fund in place, in case of any big unexpected expenses.

I will say most are more expensive than you'll find in Houston though so be prepared.

These are very expensive decisions to make and you want to make sure your partner in life is with you every step of the way.

Postage is expensive. :) Good luck!

I'll make a list of expenses I think I will encounter.Purchase - 65000Rent-  650Taxes monthly - 105Insurance monthly- 62Vacancy 5% - 32Repair 5% - 32Mortgage - 278All that puts me at 509 expenses versus 650 rent to be at 141 cash flow monthly.I have calculated the CoCR a couple different ways because I am certain that the house is rent ready now but I also figured it with some rehab expenses just in case I find something.141x12= 16921692/16000(down payment plus closing)= 10.5% CoCR1692/18000(down payment, closing, and 2k rehab) = 9.4%Like I said before 650 seems like the safe route for potential rent.

It's good risk management to have the 30-year mortgage and the flexibility in case your rents ever go down, or you have a really large capital expense (e.g. you have to replace an entire HVAC system).Lastly, seek out a portfolio lender (a.k.a. balance sheet lender).  

The bank/lender will ask for all the financials on the property, check the income verse expenses, and many different aspects regarding the building a the project income and the historical treads in the area of the deal.You will not have to provide pay stubs, credit checks, employment checks, debt ratios, or anything the banks do while looking at a SFR deal.

Meaning that in a life and especially in an emergency they may be faced with making decisions between food, medicine, transportation and living expenses.  

On-site or part-time, someone has to do it and get paid while doing it. 5% PM fee is pretty standard for large properties (100+ units) and, yes, 30-units may end up with 8% PM fee and no "official" payroll but the expense is there in some form nevertheless.