Obviously, on the 30-yr example I would be able to combine the $12,000 I saved from cash flow with the small amount of equity I built up; but that wouldn't be as good as the equity built up from the 15-yr.

I've watched too many politicians fall, and we have worked too hard building our reputation to tie it to someone else's character.I may be political at times, but our business is an enterprise...a free one...participating in modern capitalism.

Not to say these rating sites/systems are corrupt or worthless, but I would combine/compare it with word of mouth.As far as word of mouth advice I can offer you,  the only bit I've heard about schools is that the Klein ISD (which is up in Spring, north side vs Missouri down on the SW) is excellent.Wish I could be of more help.

But the 9-12% returns your seeing are pro-forma usually on buildings that have some combination of needing a ton of work, high vacancies, non-paying tenants, etc.   

at all. disclosure: i've lived in Vancouver BC and Bellingham WA for combined 26 years.  

So the valuation is above the combined total of purchase price + renovations, sometimes by $2-3m.

My actual cost for all utilities combined averages $97/unit/mo. 

1st/2nd combinations, wraps he used to buy these?

Combine this data w/data on average property costs per neighborhood & you should be able to narrow down where & if you can cash flow given your price point & expected mortgage note.   

Real estate and a combined knowledge of real estate law, local ordinances, finance, appraisal and estimating construction costs and closing (Attorneys and Title companies) helps makes things go smoother.