In 2014 I took $ 50K out on new appraisal of $ 175K and now the property is self-sufficient now means rent cover all the expenses.

"Three factors drive Houston's economy - the price of oil, the value of the dollar, and the health of the U.S. economy.

It would be a three story walk up no elevator.

Of course, the first three I bought during the down turn do the best but these others would still be making me money.

Once it's rehabbed, it could sell for twice or three times it's purchase price. 

As long as you think it will take, multiply that number times three and add a little change and you're close to how long it will actually take. 

I feel badly for this man, his family and the trauma the agent was put through but I don't think it's enough to warrant taking absurd measures when you're being sufficiently cautious already.

Then I've done three more properties on portfolio loans with the branch president of this regional bank over the last 9 months.

Assuming the remaining 2 members had sufficient income and credit, could a mortgage be obtained for $500,000 to finance the buyout?

Also, if we want to better cover our risk, we can obtain a sufficient security deposit up front.As property owners/landlords we are ultimately responsible, so the utility companies send us a copy of these bills.