Doing 0 down, no pMI with special mortgage. 

There was a special assessment that I didn't see and that changed everything and put the cashflow at around $140.3.

She helped four of my clients do 1031 exchanges here in the Berwyn/Cicero market last year, and her company specializes in 1031 exchanges all over the country.

I'm working as a bird dog for him and helping to line up properties I find when I'm out driving for Uber. 

First of all you won't won't utilize a quit claim deed in Texas...special warranty deed is what you need in Texas and seasoned Texas investors are well aware of this. 

@Jonathan FarberIf your local banks have said no, you need a mortgage broker that specializes in commercial lending. 

There are rules that need to be followed, but some lenders specialize in those kinds of loans.

Responsibility of owning a home out of state.Hiring a Property Manager really does pay off, specially when you are not in town. 

First step is to check with the city or county to determine if you can do what you want to do and what is required for all zoning approvals and the time frame, Ask if you have to install curb, gutter, sidewalks, street signs, street lighting or any other special requirements. 

Generally if you average 7 or fewer nights or 8-30 nights and provide "substantial" services such as tours, house cleaning during a stay, meals, etc you DO have to pay self employment tax.Kudos to this CPA site (tarlow. com/2018/01/02/tax-ramifications-short-term-rental/):"When property is rented for short periods, special (and sometimes complex) taxation rules come into play, which can make the rents excludable from taxation; other situations may force the rental income and expenses to be reported on Schedule C (as opposed to Schedule E).If you have been renting your home or second home for short periods of time, here is a synopsis of the rules governing short-term rentals so you can prepare yourself for the upcoming tax season.Rented for Fewer Than 15 Days During the Year: If you rent your property for fewer than 15 days during the tax year, the rental income is not reportable, and the expenses associated with that rental are not deductible.