TravisYou picked a great city Houston is in the top 10 Emerging Market list where equity is rapid and huge.Paul

TOAST.They probably bought, or cash-out refinanced, in the 2004-2006 time frame, top of the market, appraisers were just making up numbers for values.Will your gross rents be at least 3.5x the P&I of your loan at 75% LTV?

Another issue is zoning as a special use permit may be required, having special needs or more than 3 unrelated tenants is sometimes an issue.You may also be subject to inspections and ADA requirements, hard surface floors wider doors, etc. it's no walk in the park.After you get the permits and modify the place, you will get higher than market rents (due to mods) but you're also pretty well locked in to renting to that NP/agency, can't really take them to the cleaners as they can move on leaving you with a harder to rent dwelling too.Insurance will be more and you better keep the place up in tip top shape.

Fantastic?

Make sure your credit is in tip top shape.

You would sell to someone with temporarily tainted credit or possibly self employed, getting top dollar on your sales price, 10-20% down, charge 7-8% interest, and rid yourself of the PM, maintenance, and all other expenses of holding rental property.

Add on top of that figuring out good yardsticks to measure a properties potential and I think I'll have a good start.My big question is...I only have about 5k in saving right now so it would take a long time to be able to save up the 20 - 30k for a 20% down payment.

These guys know everything there is to know about L/O and helped me avoid many sink holes when starting, they are also fantastic people and affordable.

I've decided that we should focus on Austin, TX as our main starting point as it is one of the top cities in the country for population growth, employment, and low unemployment numbers.My wife and I have decided to take nearly a month off of work and fly our family (Me, my wife Victoria, 14mo old baby Jude, and mother-in-law) from Seoul to Austin so I can learn the market and try my best to find some deals within that short time period.

The Master vanity top is Santa Cecilia and the rest is Absolute.