You can get away with older units in lower priced units...not as much in 500k houses. 

and round and round it went.  

I manage two properties from a distance so this are big ticket items I'm always looking for.

Assuming you have moved out after year 2, and you receive zero benefits other than very low-cost living expenses for the first 2 years (no appreciation, deprecation, amortization or cash flow during this time)In the next 5 years, you will getCash flow 3K average per year 15KAppreciation 12K ave per year  60KDepreciation 2.5K ave per year 12.5KAmortization from chart rounded down years 2-7= 34KThese are your returns, not just CoC, which is all you get with most stock purchases.  

You can get away with living in those units as the owner and cashing out on the rest of the house.

That way if you want to sell in 3 years, the buyer can take over this loan, plus pay you more on top, and you won't be hit with a pre-payment penalty.I don't like that you have a second round of yield maintenance after the rate reset.

Buda/Kyle, Round Rock, Cedar Park and Leander are all good areas.

I think my Dad was able to get his commission to me in a round about legal way. 

It needs more paddock fencing, stall accessories, maybe a round pen.

It's not near a coast but it would still be a nice get-away from the Wisconsin Cold.