You will either make money or lose money, rarely do you break even so consider if $250 per month is worth the debt of 1/2 million.

One thing you will find is what I call welcome wagon posters.. they mainly just cut and paste a welcome or the exact same post time and again.. mainly touting their business.. 

My credit is good and I have no debt, so I don't anticipate having any issues getting traditional financing. 

Agency debt is also not going to be possible under $1M (as pointed out by @Mark Allen).Best bet: Either find additional capital partners, tap into bridge loans for short-term financing (while you sort out your liquidity position) or pass on this deal. 

If you stick with mainly multi family properties you could contact the owners for all of those and they are very likely landlords.

Here is my main question, and then I will give you more context below:  - When looking at potential purchases for SFH rentals in the DFW area, what are YOUR minimum requirements for IRR, Cash on Cash, and monthly cashflow? 

The studio is off Main Street with a sq footage of 466.

I just always felt that I didn’t have the money necessary to get started (I have enormous amounts of student loan debt).

Pay down other debts?

I am just wondering if I should just prepare to have to move out when he dies, and not take on the children or the student loan debt that one of them dumped on him 5 years ago.