This is in zip code 78664 in Round Rock Texas.

My contractor acts as a partner in my deals through bonus payments (as opposed to officially through an operating agreement) and is also a very long term friend.

There are people here who believe that 2% is not achieve-able in any neighborhoods where they want to own properties, there is even some consensus that at 2% you have a pure-cash-flow investment with any appreciation as an added bonus.

Come join this free monthly round table discussion of all things Real Estate.

Yours have the added bonus of having a high demand 2nd exit strategy of selling to home buyers.

If I go with a REIT, my return every year is the same, but I don't get that bonus at the end.Am I missing a key component in this scenario?

I'd like to leave next year after bonuses (Feb 2015).

So again, I agree - there's a lot to look at to get a well-rounded view of an agent's performance (and I haven't touched on everything by any means!).

Bonus: Is this a property I can exit quickly?

After about five rounds of this, the judge makes his ruling. 90 days confinement, bailiff take charge of the prisoner!