Some people buy a house as their primary residence, live in one bedroom and rent out the other bedrooms.

I sponsor a few people, as a broker that do apartment locating and I will do it from time to time if there is good money to be made.

After all that, you need a marketing strategy to bring in qualified leads. 

The buffer was nice to have, because people living paycheck-to-paycheck are always one problem away from not making rent.

@Brian Cannon commenting to hear what people are saying as I invest in DFW!

This may not be a big deal like many people are saying… but this is a huge purchase for you so why not do as much due diligence as possible. 

reaction.A $500K building should be bringing in $5k/mo. (1 percent rule)If is bringing in $3700/mo total then it is either under rented and the rents need to come up, the building is over priced, or it is simply a bad deal. 

did your agent bring the attorney in or did you find them?  

We provide housing for Homeless and Addicted people in underserved communities, and in an attempt to revitalize our Downtown area, and expand our Program (part of it is home ownership and entrepreneurship) we need to be able to buy adjudicated properties, or have them donated, then have the finances to redevelop and repair them.

We provide housing for Homeless and Addicted people in underserved communities, and in an attempt to revitalize our Downtown area, and expand our Program (part of it is home ownership and entrepreneurship) we need to be able to buy adjudicated properties, or have them donated, then have the finances to redevelop and repair them.