The particular property we're looking at, thankfully has a driveway & a 1 car garage and is not on a major thoroughfare.Thanks again for wishing us luck and we'd be glad to DM you the details should we decide to pass on the property! 

And in your father's generation the paid off house is a major sign of success, and may not be something he wants to encumber with a loan. 

Seems high for just a tank, very low for a complete new septic (I paid $12,000 for a new 1000 gal tank and leaching fields in Middlefield CT a couple years ago).Rotted sills and termite damage could be minor, could be major.

@Josue VargasThe majority of people, especially those who rent houses, feel threatened by books and make it a habit not to read.

One thing is to see it in charts another is in person.On my first trip I spend hours driving around and zoned in a neighborhood University area at the time I saw monorail to downtown was being build in that area and knew it would only increase the value of properties.I like being close to major Hospitals/ Universities feel there will always be a demand even during a recession

Because of that, the majority of people here prefer detached lifestyle (SFR) except in the luxury apartment and condo market downtown.

If they fill your units, they probably wont leave until the lease is up... because frankly any science major at A&M, Texas Tech, or UT doesn't have time for anything else but school.

It is pulling out the money that you previously put in.Once you're at a point where your money is recovered, and you have profits over and above - you're free to do anything with this money, probably in this order:keep a reserve for contingencies (vacancy, major repairs etc.)reinvest into buying more propertieswhat you call paying yourselfYes, it is arbitrary.

Student loans are a major issue3.

We fixed the major things (mold, replaced carpets and flooring, painted everything, fixed the sunroom etc.)