I agree its not the best cashflow, but I wouldn't call it a terrible return.I also didn't mention the property is directly next door to my in-laws and nephews. 

Taking $1,100 off the income I would be paying approx $700 in housing expenses which I think is a good number living in DFW.View report*This link comes directly from our calculators, based on information input by the member who posted.

Ping me direct if you want a little more privacy or reply here. 

I would suggest going direct to the retailer as well. 

Two types of upfront costs:- Before Closing:  Only thing that should be charged here is an appraisal, and most of the time this gets paid directly to the appraisal company, not the lender. 

Don't assume what a bank will do, go ask a few directly.

Hi Flavius,Direct your realtor to ask for the seller to supply the permit.

If you'll be here during that time and only be renting it in the super hot summer, you might have more trouble getting it rented.Hopefully that gets you pointed in the right direction.

@Joe E.My specialty is self directed retirement accounts, not financing.

I wanted to update you both as to what direction we ended up going in.