I'm local to Houston as well and develop small multifamily for long term holds. 

Terms are typically amortized over 30 years with an interest only option for the first ten.

We will end up having to complete more of the labor on this project ourselves than planned and we will be fortunate to finish this one without being in the RED.

They're managed by a property manager and bring in about $3k per month in cash flow after fees.With a household income of around $600k (pre-tax) and $100k available for investment, I'm aiming to find investment strategies that prioritize cash flow over property appreciation.

Our interests are currently more focused on short term rentals, but we are also interested in many other aspects of real estate investing and looking to make a start.

*Newbie Investor I’m currently looking to buy a long term rental with minimal renovations in North Carolina and chose Fayetteville as my main area of interest.

I tried working in the Pre foreclosure market for a year and had no luck.

If you are investing for cash flow long term, you would benefit from paying off the loan sooner (eliminating interest). 

Our strategy is to purchase a multi-family unit that would allow us to occupy one unit and rent out the remaining units on a long term basis. 

Because his job is 1 year term-renewable, we leased a 1000 SF 1st floor 2 BR 2 BA condo for $1500 before we knew I was pregnant.