Quote from @Rebecca Cho: Hi everyone, I’m Rebecca from northern NJ, and I’m just getting started in real estate investing.

One more tip hit town homes and condo communities in the area.

Depending on your market you may need to buy in our out of your state to hit your goals.If you plan on getting financing you need to understand what programs offer the best options for you and your current employment or income position. 

Self managed HOAs are usually undercapitalized so you want to take a thorough review of the condition of the community to make sure there isn’t deferred maintenance because you might get hit with a special assessment if the board isn’t setting aside cash for those capital improvements.At face value, taking into consideration my typical financial objectives, I wouldn’t do this deal unless it was a much lower price.

Out of your list, I suggest the Northern and Western cities you listed (Conroe, Montgomery, and Katy).

The rate will also be higher so it makes it more difficult to hit the DSCR 1.2 or 1.25 ratio.

Rent won’t hit on the first.

It's impossible for them to hit the third close date and it's not likely they could hit any close date so they back out.I am feeling as if I was mislead. 

But in reality you might just want to think about using a standard savings account And taking a hit from inflation on the cash because the delta from the higher interest account to the regular account is not really that much on small amounts.

You can add different ways to reach out to improve your conversion for owners you are hitting or you can increase the amount you are sending.