I would not do this deal for the following reasons:-Austin has had a tremendous run and while I do not see a huge downturn, I do not see how the run can continue at this level-Huge number of rental units coming on line that will bring down occupancy levels and rents will follow-Your $160 per month HOA fee WILL jump once the complex is sold out. 

If they are a General Contractor they probably have multiple job sites running at the same time.  

Normally I’d say no but you got a psycho ex a toddler involved guns going off people being firedHalf dozens dogs running through the house .. sounds like an episode of COPS over there .

But while you're still just running numbers as a learning exercise, you can use the crime maps on Trulia and use Google Maps to view the street.

I grew up in Altamonte Springs ('87-04)  and saw it go from a rural town to what it is today, sort of a haphazard mix of nice residential, not so nice residential, run down commercial with pockets of freshly built/rehabbed commercial, low income apartments-turned condos before the crash-turned foreclosure havens that are barely recovering.... 

responsibilities for day to day running, in all relevant areas of activitytactical decision making (day to day)strategic decision making (longer term policies)what things can only happen if both parties agreewhat will happen if you can't reach agreement on some major issue - ie deadlockWhat happens if either party 'wants out'?

So it is like financing a $40.000 each for me for 10 years at 3.99%, seems like a solid deal for an investment property “mortgage”, which usually would run a lot higher besides that no bank finances a deal that low anyways.

I just started orientation is tommorow so I haven’t really spoke with anybody in my office, just trying to get ideas of what works I want to hit the ground running

I think of every property I buy as a "slow flip", I don't even try for the home run, I'm playing Moneyball.  

What I did not include were the legal expenses associated with two recent evictions as I figured that a 55.6% expense ratio would probably be pretty accurate over the long run.