Looking back my whole plan was based on 5% mortgage rates.

Another client of mine was using dropbox and it was such a game changer when searching for the receipts.Cost of the services will vary due to the amount of work it involves. 

As you start your search, I would highly recommend digging into the specific neighborhoods.

An investor friendly agent can do all sorts of helpful things, like setting you up with a search for properties or connecting you with folks who have recently done deals like the ones you want to do. 6) Consider analyzing a deal or two in your local market, just for practice, with a free use of our Rental Property Calculator (or other calculators).

You already had an attorney do a title search?

Find and join a local REI or land lord Association and attend meetings to get local perspectives on markets, LL/tenant laws and experiences etc.Hang out here and search threads that may be relevant to you and your desires/needs.Decide on your objectives from investing, taking into account your resources from financial and time perspectives.

Your dad's cost basis for the portion of the property he now owns outright (his life estate portion plus the remaindership portion he received back from your brother) would likely be based on the value of the property at the time it was originally transferred to both you and your brother.

This property is ideally located in northeast Colorado Springs with easy access to military bases, shopping, dining and entertainment.

This is certainly text book and absolutely the proper way to analyze a deal.Im not sure what he owes on the home but based on the payment and the year it was bought and the fact that its 20 min from Austin im just going to throw out 500K for conversations sake.500K compounding annually at 3% for 5 years comes out to approx $578,000, and you have the loan paydown aspect as well obviously. 

You don't know what a good property is because you are basing it off metrics from a couple of years ago or the one percent rule.