This is far off from the “1% rule” however I do not know the landlords mortgage so this may still be a good investment.

We allow you to set rules as the landlord - you tell us if you're open to pets, have house rules, etc.

So here's my new and improved offer-  $5k down option fee for a 3 year lease option. 

It seems that the oil market locally (Houston) is continuing to improve versus the past 3 1/2 - 4 years of layoffs and corporate acquisitions (cannibalization).

Plus, they can work with you to improve your credit and get you a better loan product (lower interest rate, etc.) if they have some time upfront to work with you on this.2) You Don't Need 30% Down For Conventional -- You only need 5% down.

Lenders have seasoniing rules and often restrict how much you can get back on a refinance until a certain amount of time passes.

Use rules to establish the rest for categorization; you can put the books on a high degree of auto-pilot.

If you improve the property, say you go from a regular property to a temperature control unit, this will allow you to increase the monthly rents and hence drive up your revenue.  

Any rules of thumb you can provide are appreciated.

Make sure to read the rules and regs of the complex you ever want to purchase in.