I am still in the early stages, trying to learn as much as I can.

Ideally, you take over an existing tenant base. 0% occupancy isn't something you want to take on in the beginning and especially at this stage in the cycle.Originally posted by @Tony Marcelle:Originally posted by @Andrew Hogan:Very true @Tony Marcelle.

I could buy a single family and rent to roommates but I've outgrown that stage in my life :)  I'm thinking of investing in the Terrell area but not as a house hack. 

The cold caller's job would strictly be generating first stage leads from sellers and passing them on to us.

Staged well and clean.

I don't think your extra capex is excessive. 

It sounds like they haven't really talked about selling, but perhaps I called at just the right time given the stage of life/career they are all in.Soooo...I need some guidance/advice/suggestions.

Distributions in excess of the pref are return OF capital, until the initial investment has been fully returned, then back to return ON capital.  

A bad deal at this stage of the game could be a killer.

Markets like that are usually just parking places for excess cash rather than growth opportunities.