Some other factors to consider - How long are you planning to hold this property?

The city also has multiple high-growth areas where property values are steadily rising, making it a great option for both long-term holds and value-add investments.Tulsa offers similar affordability with a strong rental market and steady property appreciation.

You're not looking to do that, you're looking to keep it as a rental/hold it due to the rate.Have you gotten the insurance update in Houston?

We did this because initially we were just going to build/sell, but I would rather hold on to it.

@Chris Mahoo many new investors don't take the time to properly understand RE investing.1) Many are using approaches from 2010-2018 when Class A property prices were so low from the Great RE Crash that an investor could cashflow and get pretty easy Class A tenants to manage.2) If you look at what investors were doing before 2008-2010, most were buying Class B & C rentals.To make it worth while, an investor either needs to Fix & Flip or invest & hold rentals for 10+ years.- Over a 10 year period cashflow will increase as rents increase (rents typically rise faster than property taxes, insurance, etc.)- The property should be appreciating, if purchased in a good location, increasing the owner's equity/wealth.- Rents will be paying the mortgage off, increasing the owner's equity/wealth.- If you hold a rental until death, you can pass it on with a stepped-up cost basis, limiting captial gains if then sold (limited by inheritance tax limitations).Too many newbies on this site trying to replace their day job income via "passive" real estate investing w/o digging deep enough to understand how it really works.

You profit share with them for the first 10 deals (at the higher levels) because they really are right there with you holding your hand, and as I mentioned, doing three way calls, etc. every step of the way.  

Since you’re already networking and have some good realtor contacts, focus on narrowing down your investment strategy (like buy-and-hold or house hacking) and target markets with solid cash flow potential.

Shorter term deals though, they will hold 2 to 3 years, sometimes less.

This is the only thing holding me back from making an offer on this really good deal.

Finally, as an aspiring/budding lender, I don't have as much access to mentors, but then again it's easier than rehabbing/flipping and probably easier than buying and holding and managing multifamily.