You can’t compare what Dave did 35-40 years ago to today’s lending environment and it should be noted we don’t know the specifics of his loans and equity position either .

In this environment with inventory so low, a builder can ask you to stand on the corner and cluck like a chicken.Catherine CoyLoan OriginatorShore Capital Corporation

Demand for housing will continue to increase, driving appreciation and rent for the foreseeable future.Pro Business Environment - Nevada has no state income taxes, low property tax, low-cost property insurance, reasonable traffic, reasonable property prices, lower cost of just about everything.

My last purchase between the Palm Springs / Joshua Tree area was for $800k and $120k remodel and furnishing, will do $220k a year gross rents (I was hoping for more like $300k but the market has changed bigtime, like many).These larger properties have more overhead, I would encourage you to set your sights higher, especially in this market environment of diminishing prices and lower occupancy.Sounds like you have properties that cost $630k purchase (plus some upgrades, furnishings, furniture, etc, expenses) that gross $8k a month. 

I thought I was going to be able to turn the properties around enough for a bank to approve another loan however with todays lending environment that was not the case. 

The best pricing on these DSCR rental products are at 1.1X and higher up to 1.3X but in today's environment where the rates on these products are in the upper 7-9's even getting 1.00X is tough in pricier markets.What I've found is that in west cost or more expensive markets the ratio is much lower and the borrowers have had to bring in more equity/down payment, or reduce their loan amounts/LTV's.

City-Data will help you see which neighborhoods are "healthier" investment areas compared to others by using their map feature. 

We are in a low inventory environment, so you have to take your time.

They kept giving me the run around about how they are on hard time due to Covid and Texas is not a good work environment.

I'd certainly have strong cash reserves in this high interest rate environment.