Depending on the market you're looking in, that can buy you a small apartment complex.

As I realize the answer may depend on the State of the property, I am wondering if the 1st lien on a property is given to the 1st mortgage recorded, or the oldest mortgage document execution.Basically if I have 2 mortgages on my property from lender A and lender B, regardless of the amount.A is signed on February 15B signed on March 15,however B is recorded right away on March 18th and A is recorded on March 30th.Who has 1st lien position on the property in the court of law?

I suppose 5% on repairs could be okay but it depends on the condition of the property and the type of tenants you'll have in that area.For management, usually I will put at least 10% in my analysis (especially for a duplex) as any property management company will typically charge a placement fee (usually 1 month rent) when they place a tenant in the unit.

It really depends on the value of the property you purchase, whether or not getting rates in the 5s makes sense for you. 

There are definitely parts of Killeen you want to avoid in my opinion and target a certain minimum rent/unit depending on the property type.

Depends on your resources Account Closed and your goals. 

It all depends on how your numbers are looking like. 

For that reason, it really depends on what street/block you are on - the price differences can be pretty dramatic.

This may help some but this will depend on your experience with construction and relaying various repairs and renovation items.

With a value of $120k, the only viable option is buying as a rental, depending on condition and expenses.