Hi,I live in TX and I'm looking to buy a rental property. 

Does anyone have a rental agreement for pad split or room rental?

We take title to each of our rental properties in a separate land trust.

After 2 Duplexes ($80,000), we left with $320,000 so we want to buy another 2 Duplexes (same price) with 25% down payment ($112,500/each) since we are not living there for long-term rental which left us with $95,000 left.

I have out if state rentals but this is the first one in California a few minutes from where I live.

I do not yet know what my end goal is, but my current goal is to obtain 1 single-family home rental property, and expand from there.

Consider markets like King's Mountain and Jacksonville, which offer the potential for appreciation and rental demand.

There is a shortage of rental properties in Calvert County and Saint Mary's County in southern Maryland. 

Here are the numbers, so you can see what I mean.The numbers are the following: 359,900.00 sales price (purchased Dec 2015) 89,975.00 down payment (25%) 10,000.00 closing cost (estimate - I don’t remember the exact figure) 7,000.00 required rehab (estimate - I don’t remember the exact figure) 106,975.00 Cash invested 3,900.00 Rental Income (actual figures) 150.00 Parking Income (actual figures) 4,050.00 Total Inflows (400.00) Utilities (250.00) repair budget (not an actual outflow, yet) (2,200.00) Mortgage (Includes insurance, taxes, and P&I) 1,200.00 Operating Inflows 14,400.00 Yearly inflow 13.46% ROI If I were to use the 50% rule I would have discarded the property. 

The owner of that property, if it is to be a rental, can manage their own property and don't need any license to do so.