We just completed a total gut in the West end area and the total cost was 130K for a major rehab.  

So he sends me an email back this morning with the advice his attorney gave him and now I am completely stumped.. meaning I don't even know what to say back or how to reply to what he says here is the exact email he sent me this morning after speaking to his attorney, " Hello,I spoke with my attorney yesterday, and what you have presented would be a good idea if I was in financial trouble, or had a property I was unable to sell.

He seemed to think that it was likely the Council would not approve my application for the special use permit simply because they didn't have a plan in place to regulate STRs and wouldn't want to open that can of worms.Because we are not willing to do business in a city that cannot give us a license we sold the house and found one in the county that did have a process in place, and now we are approved and in business.Moral of the story is that just because a city does not have any restrictions against STRs does not mean that they actually have a process in place to license them.

Lol, I'm very methodical in my way of doing things- therefore, once I find a process that brings good results I will simply repeat that process for eternity :) 

Closed in October 2013 at $152,000Over the next few years, I made some additions and repairs (new bedroom, bathroom, and extra kitchen in the basement), and now got two housemates - completely covered my mortgage payments.2015 rolls around and I start studying real estate a little bit more.

For you first larger multi-family property, I would focus on areas that have proved to have rent stability, overall low capital improvement requirements, and a record of property appreciation over simply going for a property that gives you the largest forecast returns.  

I disagree completely that Houston will experience anything close to the population decline New Orleans saw after Katrina.

I found the perfect house for me to do my first wholesale deal with, due to its price in relevance to its location and the property values in the surrounding area. However, I am very confused as to how to fill out thi...

If I get a response on one of the properties, I will then assess the value and financial situation, see how much they owe and proceed accordingly with a short sale (if possible) or simply buy the house from them.  

., completion of new constructions coming to markets with incentives for renters), and he expects rental price to stagnate or decline a little in the foreseeable future.