When I look at buying property if rents are slightly above average I discount the NOI cash flow to current market or below.The reason is if tenants leave and you have to release you could have a cap rate drop.

Check with title but I believe once a mechanics lien is placed they have 6 mos to collect and release or move forward with a foreclosure (extremely unlikely unless he has significant financial resources).

Tenant says that the home has not taken any water yet but it is likely to change as they release more water from Barker reservoir which is overflowing.

You can delink the tracking number to your property manager's number when the property is rented out and use the same number to advertise another number or just release the number.

It seems that most spread sheets only calculate annual numbers which leave investors wondering how accurate the numbers are or more specifically in my case, will the cash flow will cover the debt service while the property is being rehabbed and released? 

Ovioulsy, hte SFR Homes comments about Houston were Pre-Harvey.Texas Home Sales Activity Grows In First Half 2017AUSTIN (Texas Association of Realtors) – Texas home sales volume, home prices, and listings activity had strong gains in the first half of the year, according to the 2017 Texas Real Estate Midyear Report released by the Texas Association of Realtors.

If you think of it this way, though, it's not really so bad...If the rent stated in the lease wasn't FMV and they chose to not accept the option or renegotiate at that point, you're re-leasing it to someone else, presumably at or close to FMV, but you also have to rebuild or fit out the property and likely give a free-rent period, so even if you got a few dollars over market value, you still take a hit.

Re-brand, throw a BBQ and invite all the tenants to celebrate.

If someone else took the picture and says "Use at will for any purpose" and gives a release, then you can do what you want.

It's not all RE 'celebrities' and I'm glad.