Not afraid to get my hands dirty on a rehab, but must qualify VA/FHA.I've read tons about the broader topic, but I'm hoping to get a bit more "Dallas-specific".

I have addressed all 3 of these issues.) 

The land is $410 a month, mortgage after rehab would be $350 a month.

I currently am purchasing a distressed rehab rental property in East Orange, NJ.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Secondly we are about to move, and I'm considering a house that would need a more major rehab than we have ever undertaken in the normal course of life.

The house needs some major cosmetic rehabbing--and seemingly more than most of the surrounding neighbors, so who knows about the unseen. 

I'm looking into the Columbia, SC market where there are a number of rehab properties that have the potential of being restored and rented out.

JeffListing Price:$159,000 INCOMERental Income$1,748 $.85/sqft.Garage$0 Laundry$0 Storage$0 Misc$0 Total Monthly Income$1,748 EXPENSESTaxes, Property$350 Insurance$100 UtilitiesElectric$0 Water$100 Sewer$50 Gas$0 Garbage$0 HOA$0 Lawn/Snow$0 Vacancy$100 Repairs$100 "Capital Expenditures (i.e. new roof)"$150 Property Mgr $0 Mortgage $705 Total Monthly Expenses $1,655 CASH FLOWIncome $1,748 Expenses ($1,655)Total Monthly Cashflow $93 CASH-ON-CASH ROIDown Payment $15,900 10%Closing Costs $5,000 Rehab Budget$5,000 Misc, Other  $0 Total Investment $25,900 Annual Cashflow $1,111 Cash to Start: $25,900 Cash-on-Cash ROI 4.29%

I have a large scale rehab to do on the west side of Cleveland.