They bring most of the financing and you bring the boots on the ground local area knowledge and the management of the property and some capital so that you have skin in the game.

Treat them honestly and fairly in accordance with the law and your written agreement.If you make an exception, they will ask for another.

Anything within a three minute drive of campus is fair game for that, as far as I and some other real estate agents familiar with the area can tell.

I have a fair amount carpentry and DIY skills and a pretty robust inventory of tools to start with coupled with roughly 60k in capitol to start with.

I've noticed when I was reading BP's books that the prices in USA seem fairly low (at least to me) yet it yields nice rents.

Okay enough prologue, here's the deal:3003 Finley St, Fort Worth, TX, 76111 (United Riverside)4 bed, 2 bath, 1570sf, built 1951Asking $84,900Estimating $25,000 in repairs (roof is 2 years old) needs: vinyl floors, new countertops, appliances, HVAC, possibly re-wiring, trim/doors, and paint.Estimated ARV: $150,000 (I base this on 3 bed 2 bath comps ~1350sf only a few blocks away selling for $159k to $185k, roughly $100/sf to me seemed like a conservative estimate)Estimated rent $1400/month (I based this on Fair Market Rent chart for 76111 from section 8 housing which lists 3 bed at $1350 and 4 bed at $1720, plus several 3 bed 2 bath rentals currently available a few blocks away at $1350/month)Running BRRR numbers with $80k cash purchase, $25k rehab, refinance at $105k, %10 capex/repairs, 10% vacancy, 10% management fees led to a monthly net cash flow of about $200.Is there something I am missing about this deal that I need to account for?

When I converted it to a rental I believe the fair market value and amount they used on my taxes was 110k.

Give yourself a fair chance to acclimate to the learning curve in your first three or four years of it.

The call lasted about 15 minutes, it was fairly straightforward.

That could really crush some cash flow going from interest only to amortized payments on a fairly fast schedule.