I paid my attorney $500 for a strong operating agreement semi-tailored to what I am trying to do.  

I work a wholesale operation in Okc.

There are turnkey operations in San Antonio?

The turn key operator you choose is critical.

That you believe this to be how RECs operate shows that you know very little about how real estate is regulated at the state level.  

I have a very successful and profitable business in student rentals and will provide the buyer with the information and guidance to make this property an ongoing financial success, including advice after the closing if wanted.Estimated Financial InformationPrice$164,000 Monthly Rent2,520 Annual Rent30,240 Utilities (water)($480)Current Taxes($2,640)Repair / Maint (7.5% rent)($2,268)Insurance($1,000)Annual Operating Income23,852 Closing Costs5,000 Mortgage (80%LTV)131,200 Total Cash Invested37,800 Monthly Mortgage Pmt @ 4.5%, 30yr($665)Annual Mortgage Pmt($7,977)Estim Net annual cash flow15,875 Cash on Cash Return42.0%Gross Rent Multiplier5.4Cap Rate (NOI / Price)14.5% So here is my question:Is is reasonable to rent student housing for 12 months a year?

I'm setting up the foundation of our property management business and I can't operate our business on fear.

Total real estate ROI should include 1) cash flow, 2) tax benefits realized each tax season in the form of real cash (non-operating items such as depreciation, mortgage interest, RE tax), 3) equity.

He is a one man operation so his working cost are lower.

He operates through phone and e-mail and occasionally will meet a new tenant on a Saturday.