In terms of estimating rehab costs, My approach for single families is to rehab at the higher end (new custom cabinets/SS appliances/ granite counter tops/updated bathroom/ higher end flooring.)

What is the cutoff limit, in % terms, those of you who have experience in these types of situations, to start the process?

What I'm wondering is what recommendations in terms of property type, financing and area would you recommend given a personal investment of $5,000 per property + creative financing.

Welcome Mohammed,I can introduce you to my broker, he specializes in small multi-family apartments, he helped me buy my first one and now has it listed for me (we are under contract, a 10 unit in the Gulfgate area of Houston).He is more than willing to help educate you on the steps it takes to get into small multi family as well.Just private message me and I will give you his information.I echo Sharon, there are about 5 major brokers in Houston who get the majority of the deals, they get tire kickers all the time so you want to make sure that you are pre-qualified (if you are using financing) and present yourself to them as someone who is not going to waste their time.You are correct that they prefer to deal with million dollar buyers, but they can pass you along to their colleagues IF they know that you are serious and at least can speak the lingo of Class, market/submarket, cap rates, etc... in terms of what you are looking for.

I am thinking in terms of future deals, not my current one, and want to have the homework done ahead of time.My first question is if there are any good books or other resources out there any of you would recommend that give a thorough overview compared to the more brief coverage here?

It is obvious the loan on the $50k townhome would be best suited in terms of capital demands for the investment property.

Totally different styles but at least similar in terms of beds and baths but smaller sqft maybe?

I do think that rich is often thought of as relating to income while wealth is thought of in terms of assets.

Could you share what you've learned so far in terms of comparing the choices of flipping and doing rentals?

During the open house, she makes herself available to answer questions and reinforces the CL ad in terms of 1) what the rental criteria is to be considered a qualified applicant; 2) that she, all things being equal, rents on a first-come, first-serve basis from among the pool of qualified applicants; and requires a check for the first month's rent plus security deposit at the time of application--most applicants of which complete the application on the spot.