In reality, you want more than 16% discount yourself, so you're already second in line behind the Realtor as preferred buyer. 

The reality is you need to narrow down your search much more than just the huge state of Texas. 

our reality and theirs are far different.. 

@Ben Magee - I agree with all your comments and thought that this would be a great new business model in California with the passage of new state law on January 1, 2020.In reality, it has not panned out. 

The reality is this was an extraordinary event and many tenants are still do not even have water and may not have for a while. 

Reality is anyone can run their business as they see fit (last time I checked it was still a free country) and the market will tell / penalize those business owners not willing to serve the public. 

Or you do it yourself.Then you get into your reserves, which is where underwriting is really a guess, and reality can crush people.  

Reality though is most of those will never see the court house steps.. 

This is below a 1% rule and once you factor in taxes and insurance your monthly payment will be a lot higher.The reality is you could learn a lot from this property and even if it doesn’t throw off cash it could get you started in the game which is invaluable

In reality, tenants can (and do) move whenever they want as they lose jobs, get new jobs, expand or decrease their family size, have a serious illness in the family, or just want to live somewhere else.