Our property manager since she manages hundreds of units, her whole team has to stay very organized to make sure that units are being managed in an efficient manner! 

The area opens up a path to progress for you and the lower asset class gives you an opportunity to improve it (aka Add Value). 

I do like my PM company as they are professional and efficient and all these fixes sound necessary to me.

The accrual method of accounting helps smooth income and expenses out and provides a clearer picture of how your business is doing, which makes it easier for you to come up with processes to improve it.

It was a single family town house which I barely had to put any improvements into.

Assuming your terms are good, 25% down another $3000 in improvements your in ~$96,000.

Living in this area over the past few years I've noticed how it's steadily improved, with great restaurants, parks, and schools nearby, and I'd like to continue living here, but I'm also not opposed to moving if I found a great deal elsewhere.Anyway, that's my deal, thanks for reading and I am happy to be a part of this community.

Hence, there could possibly be 20-25% equity if the value goes up with the improvements.

I don’t know Texas as far as how they do their property taxes, but typically most areas if you look at your tax bill it breaks it out as “land” and “improvements”.

I have been trying to do some research on how to acquire lists and it sounds like absentee owners lists from a website are the most efficient way to get rocking and rolling.