I don't have any knowledge of the Canyon Lake, TX market so can't speak to whether it's a good market or not - @Nancy Bachety brings up very valid points re: making sure the $250k purchase price will be competitive with other STRs in the area that are bringing in ~$40k annually.  

@Patti Silva It's a valid fear but you have to keep moving ahead.

@Chris Freeburg brings up a valid point as well regarding your budget as it will be a major limiting factor in most parts of the Denver metro area considering the avg detached single family price is now north of $650k. 

I agree being as honest and genuine as possible is the best route to go, a lot of youtubers make the argument that you shouldn’t tell them you are wholesaling because they will get mad but in my opinion, the advantages that come with a cash buyer make the assignment fee validated in my opinion and not only that but the fact that they are probably already having a hard enough time selling the property since it’s distressed and can’t qualify for financing, sellers should be grateful if anything.

Hopefully you can get a General warranty deed.

Hello,    When we purchased our first SFR last year, out realtor gifted us a home warranty through Cinch. 

I would love any insights you can give to how you gather this data and what data, other than rent, you look for to validate your investment?

@Dell J. totally valid points.

They always had valid reasons, like their long-lost aunt's funeral six states away, a brother's wedding in California, their transmission went out, they had to have surgery, etc.

A 30 day late is valid and will stay, there is no point fighting it.