It was so helpful . . .this is my first time setting up a property however I know this will be really helpful!!

So, Houston Section 8 investors, what are your thoughts? 

Thanks so much for the input.

If you are purely doing it for investment purposes, it might be wise to consider not living in the unit so you don't need to divide everything up.

Provided your Sub2 purchase closing is done complete with all the necessary paperwork (e.g. limited power-of-attorney between the sellers and you), refinancing should be no different than a normal refinance.Sub2 can be heaven or hell, depending on the quality of your closing paperwork.

i say this not to discourage you, but just to help set expectations.based on the numbers you provided, for example - 40K down payment + closing costs + rental and make ready costs - let's call that $50K. 

If you need some local resources to the LV, we can chat more on our call.

I am a GC so I have some control on the rehab budget if that makes a difference in the calculation. 

Sometimes a pestering police presence can be a deterrent.If the suspicious individuals are engaged in criminal activity, calling the police while it's happening helps too.

If so then let me know, happy to put you in touch with my local lenders that can give you a gut check on your numbers.