Your property will appreciate as the area improves over time. 

@Valerie Copeland there is a lot more to this, but the BP rules (2%, 50%, etc.) are completely pointless and are causing folks using these calculators to produce false financial pictures of properties.

Thank you for your patience as we continue to improve the conditions of your home.Sincerely Management

Once rehabbed, rents can improve $300-$400/month/unit.Owner currently pays water/sewer/trash. 

Easier terms, it's the 1% rule everyone on BP pushes because it lines the pockets of the Turnkey provider but actually make terrible investments.

To do so would violate IRS rules and result in severe tax penalties.

Is my best option to do a few flips while we wait for his score to improve, or try to do a deal with owner financing?

Save the 3-5%, buy a house that doesn't need fixing up and is in great condition  (b/c you don't have the money to fund repairs/improvements),  live in it for a year or so.... and in that time, save up another 5% ... move, and turn house #1 into a rental... keep saving, move and buy house #3, and turn house #2 into a rental.   

Worth or Denton but have been considering starting the hunt - only fear is I am just not as familiar with the areas as I am in Dallas now.Really looking for simple, conservative investments that could be bought and held (1% 'rule') in places where I'd have my family live. 

In the rules from the host it clearly says no parties, or pets, or smoking, etc.