Out of curiosity how much gross do you make over the landlord's rent arbitraging the property like this?

@Rufino MendiolaIf Illinois doesn't fit your investment criteria then I'd go with a market that has strong population/job growth, landlord friendly, low property taxes and high rent to price ratios.

We are/were hoping to put a $60-70k down payment on a higher-end 'A' new build property with Rent to Retirement as I really like their business model/community, rather than a smaller down payment on a refurbished property in a 'C' area.

I've been renting it out since 2017. 1 story, 4 bed 2 bath in Frisco ISD (very good school district). 2012 old and generally in good shape. 

Rent the place and have a delta of -$2k per month I carry each month.

One of my problems is that when I rent it the people move there furniture and stuff in and the property ends up looking worse because of the furniture and clutter.

Even if you think it is worth another $xxx -- if no one rents units in that neighborhood for that additional price, it is going to take you much longer to fill your vacancy so it could mean another 3 months empty with no income.

As a back up strategy we knew he could always rent the property if needed and bring in a minimum 1500/month.

I can quickly create bank accounts for each property, the categories for tagging your transactions align perfectly with your Schedule E for taxes and I can do all of my tenant related functions like tenant vetting, lease creation and collecting deposits and rents.

@Elijah SkinnerSan Antonio and Houston are great spots for for house hacking in real estate, with cheap homes and lots of people looking to rent.