Dan - I'm not buying in DFW, but I am underwriting with 0% rent growth the next two years and then growing out my rents and expenses at the same rate in outward years - typically at 2% each.

I would plan to sell this property when the tenant is no longer ready to renew.

I recently purchased my first property that I plan to BRRRR, and had used a homestyle renovation loan which allowed me to use a bank for the mortgage and rehab.

However, the other benefits of owning real estate are: - Taxes (depreciation/potential accelerated depreciation)- Appreciation (this is NOT always guaranteed, but over time, you will have appreciation)- Building equity (in this scenario, as long as rent is paid, you'll build about $140 monthly in equity)Please note some expenses that are missing from this are: - Management fees (8-10% on average, if applicable)- Estimated vacancy costs (2-3%)- Estimated repairs (5%)Disclaimer: I am a real estate investor and own four rental properties. 

Drafted a plan, gathered estimates, created a budget, put together DTI sheets, even got an "as-built" appraisal, and also have it in a permit status at the Local Building and safety office.Then I started to look into the construction loan and the permanent financing....to do it myself, and not through a builder.I soon realized that there are sooo many companies out there that want to try to help...but cant  (some of them were even on this network of people):  don't have builds on record, won't allow for owner-built homes, my credit is less than 680, while carrying the construction loan, there may be a point at the end where because i have my rental house while building that it become hard to pay, and  I can't pull out a private loan to help start process because my credit cards balances are horrible...and my "business" has no show of income.So, now we are here in the present time....   

A little bit about my experience in Real Estate… I started a couple years ago doing some house flips in Detroit ( It was a 2 year plan) then decided to sell everything, moved to Washington DC which can't afford anything in the DMV area but last year I purchased a very nice 3500 SQFT Duplex in Shaker Heights, suburb of Cleveland.

People usually estimate about 10% of revenue for cleaning expenses.

I borrowed an underwriting model from a Real Estate Private Equity professional and it seems a little too complicated for what I am doing now and what I plan to do in the future.

Franchises like Coldwell Banker and RE/MAX have very expensive fees and then each individual office has their own fee structure.

I plan to do house hacking.