@Greg Grant Numbers look good, but sounds like you could be in for some major challenges in the tenant and property management department, EVEN if you hire a PM. 

Location limited to Texas, in or around cities like Victoria or Corpus Christi (not expensive MSAs like DFW, Houston, Austin).No particular asset type in mind, could be anything from retail to MF to warehouse or other.Renovation mostly non-structural, although upto 20% structural should be fine.Is there any particular asset type that typically requires major renovation?

The concepts, mindset and philosophy radically transformed the way I think about Real Estate investments.

Hi,I'm planning to start snowball payment of mortgage on my 3 duplexes and after going through some previous posts saw the major disadvantage is an impending lawsuit from a tenant.

I am nervous as I dont want to make any(major) mistakes.

Fannie Mae now allows you to transfer the property to an LLC in which the borrowers on the loan are the majority members of the LLC, without it triggering the due on sale clause on the loan.

If you’re under RC, then the tenants have a right to stay as long as they want, and you’d have to do a buy out or owner move in eviction, which are both expensive and major PITAs. 

You are already doing better than the majority of people out there simply by being on here and researching.The key is to take action. 

If there is an internal problem like a gas valve, rusted heat riser, bad circulator pump or (gasp) a cracked boiler, you better buckle up.When we have a situation where an owner we represent has to put in major money in repairs or must replace a regular gas boiler, we always examine the possibility of installing electric baseboard heating. 

I've had my pick of tenants and haven't had any major issues with tenants trashing the place, etc.