Good point, Theresa.Selling this home combined with savings should allow a 20% down payment on a 500k property. 

@Johnathan Cody I have two rentals for 4600 a month in rent combined.

My intent is to leverage the equity in order to purchase more properties in the near future, and this house has the best combination of location, conditions, and potential than anything else available to me.

Overall, since you're not hitting the 1% rule, this may not cash flow.Regarding your expenses:Repairs and CapEx will more likely be 15% combined.

@Daniel Whitmore I would take the value of what @Joe Villeneuve says and combine it with what some others are saying.

I'll save you the rate shopping trouble:You EITHER want a good rate/fee combination, OR you want a 203k. 203ks are massively expensive to originate, which is why most lenders don't do them at all.

Both markets have a good combination of strong economic/demographic trends and good cash flow.

I established a mgt s-corp early on so I didn't combine actively earned income with passive income like this.  

I'd like to learn more about how to do creative financing in combination with Brrrr.I'm not sure that there are Brrrr opportunities in the city itself, but I would like to try to find some deals along the I35 corridor, perhaps as far South as San Antonio.I'd also like to meet some folks in the BP community, and in particular if you live in my area and are at about the newbie level like me.Thanks y'all

Ceilings were raised, all new flooring (combination of bamboo, porcelain, carpet, and marble), new kitchen island w/ built in microwave & wine fridge, new appliances, fancy tile work in bathrooms with the master getting a bigger marble shower, built in double desk, stone ledge fireplace, painted exterior, recessed lighting, new fence, new furnace, ect….