Just getting focused on OKC again as well myself.

I feel that I am analyzing deals well in terms of price, downpayment, rents, cashflow, etc...

Make and keep a spreadsheet to track the money --- upgrades should be well thought out and always add value.

@Jay Smith  There is a good chance if they don't pay the SD and don't respond they may not pay the increase as well. 

This town is very small in population (population trend not growing) although has a community college that is less than half mile walking distance from ANY of the properties (community college population is growing at WELL above avg rate(dorm rate 850mth))

I'd recommend checking out other OKC meetups as well.

However, I would like to gain some practical experience in the world of Notes as well.

This house currently has no renter though they are actively looking to put one in the home.House 5. rents for $725/m the loan will cost me $13,000 as a down payment and $6,000 closing costs, and should cash flow approx $275/m after mortgage payment are made.House 6. rents for $725/m the loan will cost me $14,000 as a down payment and $6,000 closing costs, and should cash flow approx $250/m after mortgage payment are made.To be able to make this down payment I have the option to:HELOC my current home which cost me about $850/m in repayments OR I can find a hard money lender who would be interested in working with me, I am currently putting together a hard money lender proposal to show a couple family members that would basically look like this: No repayment in the first 12 months, all income going into an account to allow for repairs and emergencies, after that taking the cash flow and splitting it 75/25 to the lender paying it off in approximately 13 years, sooner if we can make extra payments on it and giving the lender an 8% return on his money(about .5% less than what I was quoted for my HELOC).ORI can potentially do a deal with my brother who is also looking to get into real estate and we split the properties 3 a piece.These properties are right outside of a military base in a low income city but have done well for the family currently owning them with consistent long term renters in them.I am looking for any advice as to whether or not this is a deal worth pursuing.

This is a larger 2500sqft home so that makes a lot of sense.I'm sure the age of the home is a factor in the replacement value as well. 

Well light properties are less likely to be approached by burglars. 7.