Short answer, we bought at a price somewhere between actual value based on actual numbers and what it would be worth when run by a reasonable operator.  

Victor, I like your point of view and think changing my perspective is a great idea.

Greetings,I am a new member and new to Texas looking to meet others in the Fort Worth area to connect with and learn from.

I have found the satisfaction worth the effort.

The million dollar question here; Whats the home worth?

@Charles Worth,Just curious as to why you think it might not end well.No investment is guaranteed to produce a return and all investment involves risk, especially the risk of loss including, but not limited to, the amount invested.

Rudy - as both of you suggested that going very far (like Aberdeen) is bit to much as I won`t be able to manage it on my own and I`ll getting C & D class tenants, This idea came to me by seeing that @Brandon Turner lives in a town near to Seattle and never complained anything about tenants even though he has most of this properties in the same area (may be I assumed ) but if I am trying to find deals near to Seattle, its difficult to find and also lot of competition.what could be a better strategy to enter into this game..How can I invite other BP members to share their view ? 

The house itself is not going to be worth much but I'm sure that acreage with horses and all is worth something.

Please feel free to send me deals and we can discuss them together on whether the property is worth an investment.

An I believe your lender is referring to the fact that owner-occupied properties are viewed as lower risk for Banks' Underwriters thus the terms are more favorable.