So this is a very healthy development, we needed that.

@Michael Smith, For your" buy and hold " strategy I feel you need to look at the future "Marketability" of the holdings- Superior location, healthy sq.footage, etc. should get you over any resistance to frame Your Kids may want to " cash-out" and have no interestin Real Estate. .

Be very careful about the expansive soils in Taylor.

The largest local grocery store has attempted three times to lease option the land from seller but deal fell through because of the main and only hiccup--failure to do required environmental testing (soil and water) , and have dep of eco issue a letter of no further action.Seller is desperate to sell, they started the testing process about a year ago (dep of eco requires about 12-18 months of testing period) Borrower needed 250 K to paid the seller's lender off, then do a OWR promissory note for 250K with the seller.

It appears more involved than just putting in a 4"-6" trash pump at this point because the soil saline content has become too high.

Always apply " healthy Skepticism" on the numbers and what youare being told.

I have friends with SLAB rental - - NASTY outcome.The issue is with the soil, and that area has what is known as "Massively Expansive Soil". 

What would be a healthy portion of that to dedicate to the debt service? 

My strategy is slow and steady, but all properties have very healthy cash flows with minimal down.

I plan to work in So. IL