no, i think its the opposite... you get objective data by putting in the numbers on the spot (roof cost, tile, new toilet, kitchen), punch those in, hit a button and get the number right there.often times i can't remember if house x needed new pipes or not after i get home.

The area is still pretty controversial as far as opinions go, but I'm sure the returns will pan out to be in line with what Rich Weese is seeing out west.Looking forward to reading more about everyone's experiences building!

Letting them paint, you are running the risk of:1. weird color like black2. cheap paint that will peel3. if they paint themselves, those paints might splash or drip all over your maybe carpet, appliance, cabinets, door knob... who know how it will drip.4. who knows what else they will paint... they might even paint your fridge, toilet bowl, windows, hardwood floor or fireplace... art students are really creative.

Simply pointing out these assumptions reflect confidence that may not pan out-- and there is always risk inherent in these activities.

Yes some investors haven't been paid on time but let's see how it pans out.

I can do better on low-risk investments, than poor Mike OH does and I don't have to shoo off crack dealers and clean filthy toilets.

Minor repair OK (ie. oil change)-lease also says that the tenant is responsible for damage caused by their invitees or guests-sign off on "end of lease checklist". send 30 day letter spelling out what needed to be done to prevent charges. ex broom clean (100) no stains on carpet (50 per), lawn mowed within 2 days of vacating (50), oven (50), tubs (25), sinks and tile floors " sparking" , no dog poop in yard (5/pile), all light bulbs working (10), all light fixtures clean (10), windows " sparkling", no cobwebs, auger toilet, rekey locks (per cylinder), painting (per room, or SF), cleaning appliance, stripping/waxing per room, carpet shampoo per room, light cleaning, heavy cleaning, trash removal per pickup load, etc-----Have several LLCs and hire one of them to do the work and subtract from deposit.

Eventually yes, they will become sellers, but I've never envisioned it panning out as a glut of property coming on the market at once, esp. in Houston, whose growth I believe will continue for many, many years to come.

They prevent the seller from dealing with anyone else, but give you a chance to back out if things don't pan out.  

Multiply that by the fact that if you don't put 20% down you will be paying PMI or MPI, which is the equivalent of flushing money down the toilet only to clog your septic system.