My ultimate goal is to combine both real estate and construction in a national corporation.

They might can hang out a loan longer before it comes due because the balance is so small versus deposit levels at the branch.I usually do not do much business with banks on commercial because simply what they are offering I really consider crap loans for the deal size we do.Had a president of the bank call me the other day selling 3 to 5 year fixed loans with 20 year amort. and full personal unlimited recourse with 30% down.

Obviously, on the 30-yr example I would be able to combine the $12,000 I saved from cash flow with the small amount of equity I built up; but that wouldn't be as good as the equity built up from the 15-yr.

Not to say these rating sites/systems are corrupt or worthless, but I would combine/compare it with word of mouth.As far as word of mouth advice I can offer you,  the only bit I've heard about schools is that the Klein ISD (which is up in Spring, north side vs Missouri down on the SW) is excellent.Wish I could be of more help.

But the 9-12% returns your seeing are pro-forma usually on buildings that have some combination of needing a ton of work, high vacancies, non-paying tenants, etc.   

I will read some books when i get some extra cash but they bore the liveing crap out of me and put me to sleep.

at all. disclosure: i've lived in Vancouver BC and Bellingham WA for combined 26 years.  

So the valuation is above the combined total of purchase price + renovations, sometimes by $2-3m.

My actual cost for all utilities combined averages $97/unit/mo. 

1st/2nd combinations, wraps he used to buy these?