$6.25k feels manageable, so I compared the rent vs purchase numbers.  

House-hacking in a multi-family unit is one strategy I wish I had been aware of when I chose to purchase my first property.

Cap rate is about 5.5%, but cash flow is less than 100 USD per month.The TK provider is well known here on BP, and they are known to have a decent tenant management.

. :)Anyway, I like your strategy of driving and looking for houses in need of repair and sending handwritten letters and contacting rentals for the reasons you gave.

One thing that’s jumping out to me is how your House 3 has some serious potential once you carve out that above-garage apartment.

I've vehemently argued against acquisition fees, syndicators that don't put a significant investment in their own deals, anything called a fund, large GP groups where you don't know who is in charge, and syndicators who ONLY raise money and don't manage the property, plus many other more minor sins. 

Educating yourself on how to offer 5-star remote management would be ideal as well!

We took the highest month of "normal" winter usage we had records on -- people in the house, heat running at a reasonable temperature, washer/dryer running, etc.  

Quote from @Itay Heled: I manage nearly 400 rentals and demand is high.

@James Orystart with a house hack