Hello,I have a house that was flooded in Harvey (Aug. 2017) for the first time (to my knowledge as I bought it from a wholesaler with no disclosure) .The house is one story with three bedrooms (one of them is a master suite) with a very reasonable living space and backyard.I rehabbed the house and it looks great now, ....nobody would buy it :0(The house is near the medical center in Houston (in a subdivision called parkwest near Westbury) If I rent it it will create a -ve cash flow of about $300I'm thinking to turn it into Senior independent living but it seems to be very complicated strategy with the best yield.Any experience in doing this in Houston would e appreciated?

My goal here is to create a golden thread that a beginner can follow to get to a solid rental investment that puts cashflow in the pocket and with an added element of a little fixing up, the potential to complete cash out and do again with the same money every six months.

If anyone knows of or uses a property management that is looking for someone to start on the ground, visit their properties, create reports, deal with tenant issues, or deal with minor projects, I would kindly ask for a referral.

I both sell and purchase properties via the lease option method and one of my protections as the lease option buyer is knowing that the seller / owner cannot sell or refinance the house out from under me as long as I have that recorded option against the property effectively creating a lien. 

I don’t want to sell it I would like to rent it out to create that extra money coming in.

Haha, this is definitely that same troll that created two new profiles on the same thread a few weeks back.

If the rental is in your name or if you have created a company for the rental.

I am looking to create a web site for our property business.

Hello Bigger Pockets, I am creating my first LLC in Alabama to put a couple of my rental properties into.

We are planning on purchasing more property in the area in the next year or two.Every time we get a new question, a new situation, a new anything, we create a templated response that we put on our smart phones so that the next time that same question/situation comes up, we just change the "Hi xxxxxx" and then paste the rest in.