Currently, I have one LTR and aim to scale my portfolio while maintaining my day job.  

I have been offered an exclusive Deal by a local "friend"/ semi-mentor in my small town.  8 standard 2/1 apartments -  Quad, duplex, duplex, 1970 Dated buildings, little neglected but liveableOwner finance: 20yr 6%rate with 20k down------------------------------------------------Total purchase 400KCurrent NOI: 41k     Cap: 10         (Tax,Ins,Maint, Util)Gross rent 4500/mth-----------------------------------------------Upgrade, Est repairs: 60k After reno: NOI: 59K   Gross rent: 6100------------------------------------------------Loan pmt: 2865/mth,    34k/yrCurrent Cash flow: 531/mth,  6,378/yrAfter reno Cash Flow: 2131/mth,  25,578/Yr-------------------------------------------------Added info- -Property line Joins with (growing) Community college-Tiny town-The Buildings are Currently "uglyish".- Current Rent is 150$- $200 behind market avg.I am very comfortable in single family homes in this town (own 18 SFH rented and performing well).

Diverse Amenities and Lifestyle: Katy, Texas offers a wide range of amenities, including shopping centers, restaurants, and recreational facilities, enhancing the quality of life for residents and making rental properties more attractive.

I currently have 6 multi family houses (20 doors) also I work 48 hours a week at my w2 job and if I want to continue to grow I will need clear SOP’s if I intend to bring someone on to help.

Mine offers a discounted rate when I used them.

If that is the case, we would have to discuss your offer and the remaining principal balance on the loan.

Just like you would do with any non-family contractor working for you:- get them to complete Form W9 for you, as you will need their SSNs- have them provide receipts for materials/supplies and keep those receipts- have a written labor agreement (how much and for what) - pay for materials separately from labor- make all payments electronically rather than cash so you can trace them- pay out of your business account, not personal- issue them 1099s next year if you paid them $600 or more for labor (for the whole year, not per job): https://www.biggerpockets.com/forums/51/topics/1167632-expla... 

I’m curious if anyone would have a recommendation for lenders that offer second mortgages in Texas.

Hello, Both Connecticut and New Jersey offer their own unique advantages for real estate investment.

Your offer to purchase should include a requirement that the Seller provide all documentation and agree to sign an estoppel certificate (also called an estoppel form or agreement).