Insurance: $1200/YearUpkeep:$1000/YearSnow Removal/Garbage/Misc: $1000/YearMortgage Expense: 30 year @3.75% ~$1800/monthTotal Income: $48,000Total Expense: $10,200 (Property Tax, Insurance, Snow Removal Etc) + $21,600 (Mortgage)Net Income: $16,200This is my first property that I am seriously looking at.

I do like how explicit their forms are, but I can probably delete a quarter of it as not applicable.By the time we have the lease, the non-standard addendum (so they shovel snow and mow the lawn), the rules and regulations, and the lead paint disclosure, that's too many pages!

Next one is in March (hopefully less snow then) and it would be great to see you there.

I'm excited to finally get back into the dirt after this snow filled winter :D

I used the BP calculator and found it to cash flow with the traditional long term lease so I believe it to be a safe fallback in case nightly rentals don't work out for it.

My guess is those looking at 50 to 100k will likely not qualify for traditional lending.

I'd like to try and avoid traditional financing if possible.  

The fact that it has rained only for 3 days and also the presence of the drainage and dehumidifier make me think that with serious snow (as it happens here) this house might have a problem of water in the basement, also considering that the position is lower than the street.Given the results of the inspection the owner said he would offer an additional $5500 credit for the roof, but he doesn't want to add more money saying that the water in the basement is caused by the gutters not working properly and dripping water close to the house.

Yes there will still be exceptional deals to find but there are as many sharks as well.Texas is traditionally not a 'quick buck' market so any new investor should understand their investment goals, life situation and risk tolerance before diving in head first.Lot of my Investors treat Real Estate as a means to diversify their Investment Portfolio and are decades away from retirement, so DFW still works.Again - Do your due diligence and YMMV.

You have to pay to live somewhere, so we aren't considering the mortgage as a traditional "holding cost".