Would love to know about any opportunities that may not be a fit for you and I'd be more than happy to share my pre-market inventory as well as opportunities that I can't take advantage of.

However, while this would improve the cap rate since I wouldn't have to pay MIP, it would reduce my cash on cash return since I would have much more money tied up in the down payment.

Maybe 1200/mth for a 12-month lease, 1100/mth for a 2-year, or 1250/mth and an improvement budget to upgrade/replacement a few items that are outdated. 

I figure if I make improvements to my community my goal, then improvements to my finances will follow! 

http://www.har.com/content/newsroomHouston Real Estate Highlights in April Single-family home sales declined a fractional 0.6 percent compared to last April;On a year-to-date basis, single-family home sales are up 1.6 percent;Total property sales declined 2.0 percent to 7,583 units;Total dollar volume fell 1.6 percent to $2.01 billion;At $278,544, the single-family home average price was down 1.0 percent compared to last April;The single-family home median price rose 3.3 percent year-over-year to an all-time April high of $217,000;Single-family homes months of inventory climbed to a 3.6-months supply versus 2.9 months a year earlier;Townhome/condominium sales fell 12.6 percent with the average price up 4.1 percent to $206,832 and the median price up 7.3 percent to $153,450;Leases of single-family homes leapt 18.1 percent with rents up 2.6 percent to $1,811;Leases of townhomes/condominiums soared 26.0 percent with rents down 1.7 percent to $1,574.

(They should perform at least a quarterly inspection.)9.How do you handle capital improvements?

My wife is currently taking classes to get her RE agent license to lower some of the evaluation barriers when driving for dollars as well as easier access to MLS data.We are always looking to improve our market knowledge, we would love to hear of any advice or potential deals you might & we are willing to share all that we know as well.Let me know if you would like to chat sometime!

I think that's conservative......I spoke to a handful of REO brokers and they tell me that REO inventory is running at 50% of average volumes.  

I spoke to a handful of REO brokers and they tell me that REO inventory is running at 50% of average volumes.

If the improvements you have made would make your property qualify as "good" condition, then your only other options are looking at the other two.'