I only own one rental unit (this one) and don't accept people who have been evicted, but I would not accept someone in a current eviction proceeding either.

Survey of mortgage terms (click to enlarge):From left to right, 1.25 points, 1.5 points, 1 point but $41k in fees.Prepayment penalty: 5 years declining, none, 2 year lockout followed by 10 years defeasance.Commentary/review/discussion: I tried to provide three very different options here, but all still real ways that people actually acquire such assets.

Hi people,If anyone has some wholesaler contacts that work on the Northside that would be awesome.Thanks in advance!

I personally would be their agent, but I am very hesitant to partner with people unless I have fully vetted them.I would be their agent on a few deals, and then you would decide if you want to partner with them.

People live there because they have no other options.

Many people do a DSCR loan at this point, which would be a 30-year term.

As Arn mentioned about what people offer, first rule of investing is do not even look at the projected returns first.

@Jason Sinclair, having a designer for a wife, I would answer that it really depends heavily on each house, the flow and usability of the spaces as they are, and the overall use of space in the house as a whole.That being said, while there may be a small shift towards more separated spaces, "open concept" is by no means dead, and in many markets, most people seem to still want to have connectivity between their communal spaces.In fact, my wife's current flip is a split level (although technically it is a split-foyer), and she is taking out a structural wall to connect the kitchen, dining and living areas.  

I'm not sure about Houston but make sure you find a great agent who's focused in your area. call agents who list new construction or who closed land purchases and represented people. on my closed transaction list and active listings it's land on the buy side and new construction homes on the sell side. make a spreadsheet, email and call every single one, have 10-15 conversations, meet with 3, pick 1. sales funnel. 

Thanks to plenty of smart people here on BiggerPockets, I have learned that it may be possible to offset a portion of this unexpected higher W-2 income with the purchase and "active management" of a STR.