I've spent a lot of time on the pro forma as well, but a lot of the assumptions are based on the Houston market which I'm a lot more familiar with.Does this seem like a viable plan?

This is a high risk investment for anyone to consider and your best bet is to find a long-term job and qualify on your own.1) Two people applying for a mortgage will go against both applicant's DTI in full.2) What if there is no cash-flow and no equity/ appreciation.What can force you to sell the property keeping her in a bad investment3) What is the market turns and you are not able to refinance the property?

Great place to live -- not so much when there is little to no leverage to purchase my own home, burn rate goes very quickly, or perhaps I don't know enough.I follow Brandon Turner, BiggerPockets, Grant Cardone and have attended both his Real Estate and Sales & Marketing talks.I would like to get into real estate to one day either purchase or build my own Home Recording Studio.

(Note - No tenants will be sucessful moving with only 30 days notice in this market. 

In the last few months several of these new investors have bought into the hype of the huge cashflow to be had buying cheap, crappy houses in crappy neighborhoods in the Midwest.

Natural disasters, higher construction costs, and a competitive insurance market are driving these increases.Review your current policy to ensure you’re properly covered without overpaying for unnecessary coverages.

In general, what is the strategy for choosing rental terms in the current market?

I operate in 7 markets and in each market we have a quality control manager or runner, a cleaner with at least 2 backups, and a handyman/woman.

Are you talking about your local market or just real estate in the US in general?

In my opinion Option 1 could be a bit risky in today's environment as we are not sure if prices have hit the bottom yet, there are positive signs in the CoS market that point to price appreciation in the future, but there is a good chance the interest rates are not coming down for a while, which will have a negative impact on home values.