I moved back to TX last summer and initially looked at living in the Dallas area.

After the initial 12 month lease I can raise with 30+ days notice.

There was a fair amount of gang activity there which caused quite a bit of trouble for a lot of the developers there initially but once they started hiring a lot of them and getting them off the streets, the resistance has improved a fair amount.

You should only buy the property based off of the actual gross income, not what it could be generating. 

Initially they were buying large portfolios of properties and unloading them - getting them off the banks hands more quickly at a discount. 

2) which expenses, if any, from the refinances(3 times) I've done  after initial purchase and before the latest refinance in 2012 can be added to the cost basis adjustment?

Let me know if this is for a MF building and I’ll DM you their contact info.Also, let me re-phrase my initial statement where I said I get cheaper rates.

In some cases in real estate, it can appear to be a pyramid scheme but there is a big difference from a lending perspective and good syndication perspective in that the lenders [HML] and investors [LPs] do, in most cases, get their initial capital back. 

With this exchange I'm looking to generate passive cash flow so I can pivot into real estate full time.

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