Hey BP friends, I've been watching Austin's real estate for a while now and decided to dig into it deeper in NW corner of Austin and Round Rock/Cedar Park area.

But I'm wondering if they are as useful and applicable (i.e. the ability to edit) and if there are other more cost effective means to obtain said documents.

Also I recommend to get all the applications for the tenants or require all tenants to be screened (at sellers cost, 40 a adult is good). 

3/5/2019Sherelle – thanks for the post / questions and outline Fyi – there are some conventional loan programs that allow a 3% down payment ….I would recommend using this program versus a fha loan program if possible …this is because with a FHA loan the monthly mortgage insurance remains with the loan permanently and with a conventional loan – you should be able to eliminate the mortgage insurance in the future ……Also – if you use a FHA loan for the first home - using a FHA again for next property might be an issue …..you allude to this in your question #2Regarding cash flow analysis ….other items to factor in : utilities / property homeowners insurance ( this will be a little higher when you live in home and should decrease a bit once you convert it to a rental policy / are there any deferred maintenance issues on the house ( roof / furnace / water heater / foundation are the bigger tickets items to watch Definitely get pre approved so you know for certain what you can afford and also so you can begin becoming more familiar with the numbers …we can assist with this if you want - contact us Thanks and I hope this helps Dave Skow 

You are going to be holding up your capital that could be deployed on easier projects for a lot of 'what ifs' in this process and from what I have heard, purchasing thru Auction.com has it's own perils you need to watch out for (not that I'm against using them for a home run deal).  

David,The important thing to watch out for is the RATE of foreclosure filings.

I've been watching the webinars and using the calculators on any and all deals I find.

Anyways, thank you BP community as I have learned so much from you all just my reading and watching the lest few months.

My market is Lansing, Michigan.I just watched a video on The silent killer that is CapEx and read a blog and the comment section on why 30k homes are bad for long term buy and hold rental strategy.

Many applicants could be facing evictions if they need to move fast and you may want to suggest to him that he is placing himself at risk.