I will look at lower income neighborhoods if the return is strong, and it's a solid rental neighborhood.

Each subsequent week, I will lower it until I get a tenant that I approve of.

Additionally, I will add:-I don't think 38% expense ratio is being conservative, being at 50% is conservative and some buildings exceed this-bank won't even lend on a deal with a DSCR that low, you need to underwrite to at least a 1.25 or the deal won't get done-figure out what financing vehicle you're using, agency debt (Freddie) is possible at a lower LTV and interest rate but comes with requirements, community bank is tougher to get 30 year am on-I see nothing about exit assumptions, you might have to refi/sell after 5 years with higher interest rates and a softer market...then what?

I believe you can keep your maintenance costs much much lower by maintaining it yourself (with the help of handymen, plumbers, etc.).

However, they lowered the price on the property and then I offered a little bit lower than that, and they need to close, so they excepted it.

We want an Interest only or ARM to LOWER our monthly payment for 1 year and sell next spring -- when their lease is up. 

We have a PM in place.We want an Interest only or ARM to LOWER our monthly payment for 1 year and sell next spring -- when their lease is up.We thought about selling now but it's appreciating so much we want to wait.The problem is due to job transfer my husband's credit took a hit and mine is ok/good.

And you'll never find a house for that price in the Heights.I can't check the comps without an address, but that zip code is north of I-10, which is a part of Katy where the rents tend to be lower than the areas south of I-10.

I am looking for lower turnover tenants with solid cashflow but am focused more on building equity and minimizing risk.

I made offer lower than market but still made sense on paper.To answer you question, yes.............you do buy and sell at same time............if the deal makes sense.Here is a good example, I can buy a multi that needs work at a low price, fix, and flip, or hold if market is going up.Do investors in the stock market buy and sell at the same time?