I also know the Houston neighborhood landscape fairly well, having grown up and worked here.)What I am looking for is a serious investment partner(s) - preferably with an existing portfolio - to help in loan pre-qualification, deal analysis and mentorship.  

At some point one or both partners will move out and rent the unit(s), but that could be anywhere from 3-10+ years.They want to do a lot of work to the place - replace most of the windows, replace 3rd floor flooring, add insulation, some plumbing work, some electrical work, garage door from two manual doors to one automatic, paint entire interior, paint exterior, replace all the interior doors with solid 2 panel doors, landscaping, and maybe some other things. 

.), marketing, taxes (8% in Atlanta), utilities including WiFi, landscaping, reservation fees, and more.

I hire a stager, a realtor, landscaper, etc. 

Who does the landscaping?

Same idea, but get rid of the percentages and apply real numbers based on the deal itself:ARV: $400,000-REHAB ESTIMATE: $80,000-COST OF MONEY: $15,000-OTHER HOLDING COSTS (utilities, taxes, insurance, landscaping, etc): $4,000-STAGING: $5,000-SELLING COSTS: $20,000-PROFIT: $40,000=OFFER: $236,000

Caprentry $2,500 Landscaping $100 $16,950 The rehab was finished last Friday and put on the market Friday afternoon. 

When there is a vacancy, do you handle all the utilities turning on and paying all the bills: water, sewer, gas, electricity, landscaping etc?

When the landscaping needs to be redone?

Check the existing lease out and make sure you understand NNN, Roof, parking, landscaping, if they leave what does contract say they have to leave behind (equipment, gaping vent holes, etc), Factor in your rehab costs into your deal analysis.