Hands on management is the key to success here...

It may be an SFR, turn-key rental, or possibly a flip.  

You might consider looking into the outlying areas, but it's gonna take a lot of homework to figure out the demographics and key metrics.

@Laura N.if something creeps you out at any time before you hand over keys - put on the brakes. 

You may not have a foreclosure matter, but you could, that goes quickly in Texas, another option is cash for keys, pay the guy to leave! 

After all, every agent that is experienced in working with investors had to have a 'first' sometime.The key is communication.  

1.We have a buyer2.The buyer wants to buy 1,000 barrels/day in existing production3.Purchase price is $30M4.Our bank will lend 67% or $20M5.We have a Mezz funding source who will deposit the balance of the purchase price of $10M directly into our lending bank6.The Mezz wants to get paid off in 12 months with a 30% profit, so he wants $13M in 12 months7.The whole key to this deal is that the Mezz needs a Forward Takeout Commitment from a legitimate bank or life insurance company for the $13MFour questions, please:1)Can you provide a Forward Takeout Commitment for this situation2)I understand from the information that Gordon sent me that this type of letter costs 1 – 2 points and that is fine3)Will your takeout commitment provider charge anything to underwrite this deal and let us know if they are willing to issue a takeout commitment4)We are working on oil production deals in both the continental USA as well as Canada – are both locations acceptable to your takeout commitment providerI am really hopeful that the answer to 3) is no, because if it is, then we will put a solid production deal in front of you.Let me know – many thanksps.We are also developing several SFR /Modular Dev in Austin TX. (2016).

Knowing the client’s motivation is the key to everything else in the deal.

Are you looking for a value add deal where a substantial return could be made by re-positioning the property or do you want to purchase more of turn-key property with management in place?  

I have seen builders withhold keys from buyers until it records while a moving truck sits outside a house all weekend, and the buyers sleep in a hotel.