What program, app, or website do you use to collect rent?

I'm not familiar with your specific area, but if population stats look positive, job growth is good, and schools are good as you mentioned, there's a pretty strong chance you'll see appreciation over time.If you're truly looking for an investment though - I would consider looking for an investment property at some point down the line (maybe after you save some cash after this purchase) - something you can rent out to others, collect cash to pay your mortgage and potentially bring home some extra each month while you pay down that loan.

We collect security deposits to cover cleaning or damages that may arise out of the tenancy.

On another note, I was under the impression that you could have multiple conventional home loans in Texas before you were required to apply for investment loans, which would only require 3-5% down.

Hi BP Family,I had a question about bank accounts for rent collection.  

Assuming the mortgage servicer eventually gets the misplaced principal payment, you will have overpaid the principal of the mortgage when you make the supplemental monthly payments, and the mortgage servicer should return that extra principal to you, without question, when they ultimately close the books.The mortgage servicer will not return the interest portion of your payments, and in fact some additional interest may be due when this is settled, despite your ongoing payments, because the interest is collected in arrears.  

I only wish to contribute my experiences for the collective good.

We updated the heating system and collected $1800 per month in rent with no mortgage going on 8 months now so we cashflowed about $1200 per month.

We do a typical security deposit of about a month's rent but we do collect first and last month's rent prior to move in.

They're all as good as the data they collect so best to use an average across multiple sites.