@Courtney Olson I did this for my candle business but it could work for real estateMaybe offer Step Up  Payments too, as long as the number works, and hint at it helping wiht inflation and maybe combined it with an interest rate that is above typical inflation.A combo of something like 4% inflation to keep your same spending power as the years go, and we increase the payment by $25/month every 12 months so your spending power stays the same and you get a bit of a raise every year, then we could do a balloon payment in 10 years to settle the rest.Something like that could be an option. 

Interest rate and insurance cost in Houston will make house hack harder now but it is not entirely impossible. for particular Indepdent Height, arces homes, and highland height is a great area that is growing in my opinion. 77021 near medical center has some really nice streetLook for home that has garage apartment, duplex or big land to put up additional structure later on. look for area with low tax rate and no HOA. plenty of them around

What is the success rate that you have doing g this? 

Interesting idea, but I doubt that will happen, depending on what condo complex it is and he probably wouldn't like the interest rate. 

When analyzing investments, factor in potential vacancy rates and repair costs to estimate reserve needs, considering unexpected expenses like appliance replacements or eviction proceedings.

So, I am going to throw out my thinking on something to get started and wondered if someone could just let me know if it seems like an okay idea of not.I am currently in a home (VA loan) that is costing me $4054 a month (haven't even been in the property a year yet and have a 5.75% interest rate). 

While the 4.9% Cap Rate may not be high, it may be fitting for the risk/area.

most states you need to have a Brokers license to do that. as @Linda Weygant had mentioned, you are now taking passive income and turning it to Earned income where you will be paying self employment tax, insurance for the co. and possibly a higher tax rate.

-What are the interest rates and how do discount points affect those rate?

I can tell you the majority thought this year was going to be a landslide victory in hopes of interest rates going down by March.On top of that, another big flaw I find is agents not knowing how to properly comp houses and run numbers.