My first purchase I used a partner to obtain the bank financing as well as the down payment so I was zero out of pocket on my first 4 or 5 deals (all of which with purchase prices well under $200k.There are many ways to skin a cat so if you don’t qualify for the traditional bank loan, get creative but in doing so, be very careful in using OPM.

But if you do that, you need to be extra careful to get very good deals so you're built-in equity protects you from downturns and you don't get overleveraged.

I am wondering why does the seller care whether or not I have an agent?

I myself just purchased my first buy and hold early December last year and took care of minor issues and had a rented in place on a nice 14 month lease. currently hunting for my second one as we speak.

Be careful out there guys.  

More on my profile if you care to read that... 

If someone goes there and gets hurt, they can sue you, but your insurance company will take care of the defense.

The majority of wholesalers I've dealt with are shady and they don't get care about building relationships for the long term. 

In all case, who cares about the taxes when we are earning this much.

Texas has a lot of opportunity but be careful when you buy, I hear that you can get in trouble as an investor in the event you buy too high because Texas' appreciate rate is one of the lowest in the country due to the fact that there is so much land there's excess supply and little demand even in today's market!