Tax benefits specifically related to family members is a bigger topic.

For a $300,000 property, this could be $6,000 to $15,000.Mortgage on Rental Property:Loan Amount: $240,000 (assuming 80% financed at 4% interest over 30 years).Monthly Payment: Approximately $1,145.Other Expenses:Property Taxes: Estimated at 1.5% of property value annually ($4,500).Insurance: Estimated at $1,500 annually.Maintenance: Estimated at 1% of property value annually ($3,000).Property Management Fees: Assuming 10% of monthly rental income ($2,400 annually if rent is $2,000 per month).Vacancy and Turnover Costs: Estimated at 5% of annual rental income ($1,200).Total Initial Investment and Annual Operating ExpensesInitial Investment:Total Borrowed from Equity: $150,000Down Payment for Rental Property: $60,000Closing Costs for Rental Property: $10,500 (average)Total Initial Cash Outlay: $70,500 (initial investment from equity) + $10,500 (closing costs)Annual Operating Expenses:Property Taxes: $4,500Insurance: $1,500Maintenance: $3,000Property Management Fees: $2,400Vacancy and Turnover Costs: $1,200Total Operating Expenses: $12,600 annuallyExpected ReturnRental Income:Assuming $2,000 per month, annual rental income = $24,000.Net Operating Income (NOI):Annual Rental Income: $24,000Minus Annual Operating Expenses: $12,600NOI: $11,400Debt Service:Mortgage Payment on Rental Property: $1,145 per month, $13,740 annually.Total Debt Service: $13,740 (rental property) + $8,592 (equity loan) = $22,332 annually.Net Cash Flow:NOI: $11,400Minus Debt Service: $22,332Net Cash Flow: -$10,932 annually (negative cash flow initially due to high debt service).Cash-on-Cash ReturnInitial Cash Investment: $70,500Net Cash Flow (first year): -$10,932Cash-on-Cash Return: Not applicable initially due to negative cash flow.Long-Term Appreciation and AdjustmentsProperty Appreciation:Assuming a 3% annual appreciation, the property value could increase by $9,000 annually.Rent Increases:Assuming a 2% annual rent increase, rental income will rise, improving cash flow over time.

With that type of starting capital, you'll have some space to scale 'relatively' quickly, but start with one, maybe two, and familiarize yourself with turnaround times and payment/draw schedules as you go. 

and would ideally like to set my sights higher so that within 10 years my husband can leave his teaching job and work with me in managing our properties.

To provide some context, she initially approached our company to manage her HOA.

. $1,447 is relatively a good price for TX.

The property is being sold as-is / cash only by the management/Hoa of the development.

Build a Strong Team:Surround yourself with a reliable team, including a real estate agent, contractor, property manager, and accountant.

I have been working with investors, wholesalers and realtors for the past 3 years providing different services for them like list generation, cold calling, lead management and closing.

I'm pretty active in the NYC boroughs as a broker, investor, & property manager - happy to give you my $0.02 if you're still looking thanks.