But the property "hardening" with 100% tile floors, and $20k of capital improvements of new HVACs, new plumbing and new wiring, would push me to $75-80k cash offer.

Gathering the letter likely increases friction for capital moving to your deal and reduces the audience for investments because they're unwilling to surrender data to promoters or their advisers are unwilling to write the letter for liability reasons.

If there was the opportunity to force appreciation or more value it was a property to be sold off.Use of capital and leverage.

In April, 2012 – with seed capital from Blackstone, expertise from property managers Treehouse Group and Riverstone Residential Group – Invitation Homes was born and began quietly investing."

Explain to them that due to your strategy you are not ready yet to sell the property but if they came up with a 10k option payment to buy in 12 months, you can start to re-deploy the capital in another area, while still collecting rent.

As you can see dealing with tenants can be a pain if the right structure isn't in place especially when you start scaling.Options open for real estate investing will mainly depend on capital to start and expectations of annual return versus what kind of headache you are looking at dealing with.

If you know what you're doing, they are safe, require almost no start up capital, and the likelihood of getting deals is much better than trying to wholesale properties, at least in my experience.

Since you're just starting out in the Houston market, your best bet may be to offer your services as an experienced rehabber to a new investor who has some capital to invest.

I would look into your city and state codes, but in my experience when i installed a gas fireplace in my property instead of lining it with a new flue i simply installed a new b vent chimney inside the old brick one, and my water heater also was vented though the old brick as well with a 3" b vent, if you would like to bypass the old chimney all together and cap it (bug prevention) look into new 95% effecent furnaces, they are vented in PVC and can be vented out through side walls, they also make power vent water heaters if you did not want to convert to electric.

I always suggest new wholesalers or anyone who is considering it to make sure they have a thorough business plan and enough start-up capital to build a long term sustainable business.