This is more of a land play where per door price is 130k and rate about 6.9%.

Just playing devils advocate and posing questions that i would ask myself before i went down the road you're thinking about heading down.

Not knowing a whole lot about your financial situation, I would recommend playing it safe. 

This problem is..I live in the DFW area and the market has pushed prices up rather high, along with increased demand which makes it harder to sweet talk sellers into selling at a lower than market price. 

Hi GuysI started to play around with the rental property calculator and quickly found out that there is a lot of information that I don't know and/or not sure how to find it.

The only time comps  come into play is for the appraisal, and the appraisal is important for financing. 

Sorry, didn't catch that distinction.Unfortunately your bank seller is not going to be responsive to payment demands after the fact so you'll likely need to find another pocket.It's common for foreclosures to have water cut off for months before the sale so first is this a large bill or small bill you are facing?

If you measure the totality of your investment, mean cash flow, debt reduction, appreciation, rent growth etc you will always make more money in the areas of high demand like DC, Boston, Seattle etc than you will make in a pure cash flow market like you will in the mid west.There is always the possibility of your rate going higher, but thats the trade off of a lower rate with the arm.

I know when I borrow money and granted its usually in the millions I have my financial package all ready to go on demand and it includes criminal and all my current licensed Mortgage banker RE broker etc.. just thinks its professional when you have those.. then if a potential investors wants to run their own.. that's fine.. but I won't give out my SS to just anyone it has to be worth it to me.. ( changing hats).So that's maybe a little of subject but the amount of people that I talk to that invested with a known shyster really does boggle me sometimes.

Is this a good deal.What numbers play a big factor in the success of this deal.