And, naturally, I am always available to answer questions here :)

I especially love that the housing stock in Milwaukee and the area is from the 50s when everything was natural hardwoods.

A good insurance agent would rather educate you than just make the sale.So do your homework and where-ever you are talk with an insurance agent and if he or she cares more about you than just making a commission, then you've found a good insurance agent, If you are in the Houston and need a Good insurance agent you can contact me for life, health, accident, disabilty,cancer insurance and much more.

.- If the tenants pay for heat, it still can be an issue if other propertiesin the area have natural gas.

You are definitely in the right place :) Jump in, start asking questions, send colleague requests, start threads, and perhaps most importantly - read through The Ultimate Beginner's Guide to Real Estate Investing a few times until it's 2nd nature!

The loan, based on interest and LTV, is HML/PML in nature.

I guess it's not easy to find someone with rehab experience in both areas since most people naturally focus on one area.I was asking because Houston seems to have more distressed properties which may affect the sales prices - leading to lower margins.

In fact, I am so anti-BS Guru, the selling the "easy money" dream crap drove me so crazy that was one of the major reasons I started FIBI over 6 years ago with Jeremy Roll.Because of the nature & the reemergence of real estate investing in the public eye, there is always a percentage of newbies & wannabe investors with most meetings, not just FIBI.

Bid was 240k it came in at 280k The builder under bid the house and got cancer in the middle of the build.

Given the capital intensive nature of the business, why not parlay that into some excellent vacations and long-weekends?