There is only a 2 week period properties are empty to allow for turnover repairs & cleaning.

I had to call them to repair my mess, and they were quite helpful and kind despite the great deal of work they had to put in.

So, I’m going to use the extra money from my loan to cover closing and repair costs (if necessary).

So, I’m going to use the extra money from my loan to cover closing and repair costs (if necessary).

Since I started using it my tenants are paying earlier and responding WAY more promptly to messages, which by itself makes the cost worth it.Though actually just a few days ago they put out an option to use Roof free by just tacking on a payment fee for your tenants to cover when they pay rent, so you basically have an option to pay yourself or charge your tenants a bit extra.Bonus:  The Roof mobile app is also among the best I've used.

I’ve found that you need more like a 1.25% rent ratio in Houston, if you want to budget for property management, vacancy, repairs, and capex. 

What I find is the best situation for a lease option is when the person has little to no equity or is upside down... the place needs a lot of repair work that they don't have money for... they have no desire to be a landlord... and they don't need to buy another house anytime soon so it's not problematic to leave the loan in their name for the duration of your lease option period.Find that person in that situation and then your job is to let them know how the lease option solves their problems.

Im a newby, but it seems quite difficult to find the 1% property in the city of Houston without having todo major repairs (I dont have those connections yet).

I have a property that I am interested into purchase and repair, however I need to find a way to approach the owner, who has neglected the property and violations, and would like to make them a cash offer.

Something goes wrong such as big repairs, tenants not paying, etc, there's no other properties to help you through the rough patch.