Ive placed 2 people recently in multifamilies in Jacksonville and they are rehabbing them to have great cap rates and have no mortgage debt over their head. 

But whats the current payment on a $247k mortgage in this area?

I have been told about 60% of the rent will go towards Taxes, vacancy, capx, property management fees, repairs & insurance, and I will be left with 40% to pay off the mortgage or keep as profit.

I'm starting to put my team together and  I'd be happy to try to join meetings remotely if the opportunity exists.

@Mark PayneYou can buy the note but it seems like this transaction was not done properly as it should have had a recorded mortgage to secure the propertyWas there never a recorded mortgage?

Many would-be homebuyers are turning to Houston’s rental market due to ongoing concerns about elevated mortgage rates.

So - my question - my current mortgage holder gave me two options to refi and remove my wife's name from the loan both keep the current 4.x% rate but one can be done within 45 days and the loan starts again at 30 years.The other option, an assumption process, takes 4-6 months, retains the 4.x% rate but keeps the life of the loan at the current 24 months.I'll be rolling a HELOC into the loan.My question is:  the longer term of 30 years will lower the monthly outlay a little bit and speed the process of getting my wife's name off the loan. 

Yes, it will be tough, but as others have correctly mentioned, so will doing this full time.This challenge will also force you to invest your time wisely, which is ALWAYS a good thing to learn and practice.FYI: my manager was in the mortgage business working 70+ hours weekly, but found time to buy and rehab rentals for 3 years.

I am a real estate investor as well as an investor focused mortgage agent.

It's not like you have to have a special savings account titled "mortgage purposes reserves" that you can't use for anything else.