Are yo holding properties in a LLC, that will require some different tactics.Holding them personally is fine.

I have a commercial mortgage through them that in fine print said something about possibly changing interest rate after 5 years even though it's a "fixed" loan.I asked about this and I remember them saying that they remind you of that time period coming up and you can usually talk to them about keeping the rate the same.

I don't know what other areas are getting for cash flow, but if you look at cash-on-cash returns, and don't accept a property with less than 10% cash-on-cash return (and hopefully some capital gain as well), you'll do fine.

We're budgeting $1,000 a month for the time being and trying to fine-tune our ads, keywords, etc.

The standard TX RE contract would do you just fine, you can get one from any RE agent.

Being that I am new at this game, I am fine with keeping my fee on the low side so as to build relationships with investors.

Both sound pretty good and should work just fine.

I am guessing the PM has to be license because the state of IL is threatening to fine her $10K.

If so, what do you know of going that route AND eating the penalty/fine for breaking my current lease (I think it's about ~1,700 and ends Sept. 31 '14; and who knows, I can probably get that lower, somehow) at my apartment (it's a pretty big complex FWIW)?

Personally as long as the Church signed as a co-signer than I would be fine with it.