Looks good, but in an area where 50K is the avg purchase price I bet you can easily find some good BRRR deals or find some way to add more cashflow without having a huge expense. 

You should be able to advertise the unit and screen tenants yourself pretty easily unless you just don’t want to do that at all.

Once it is in the plan, you cannot easily take it out without tax ramifications.

What about doing a BRRRR where you use the 50-60k (or less) as initial capital into the BRRRR deal, and look for a deal where you would be able to easily get your 50-60k cash back on the refi, and possible even more?

The Texas real estate contract is changing the verbiage for what is considered a 'cash' offer, eliminating borrowing of any kind (hard money lenders, private money, etc.).

I don't get why people do lockboxes,  seeing people in person, seeing how they present themselves, if they actually like the unit, if it's actually for them-- all of this can be determined easily in person.   

Course work that will offer easily accessible fall back job opportunities.

These are 400+ unit developments, in the $30million+ range yet the structure of the deal eliminates the majority of the 'headaches', other than calling to curse out the sponsor every once in a while to keep them on their toes.Real estate is a businesses where I have found that there is almost always an increasing marginal return to economies of scale.

And an applicant who has a wage earning job could just as easily get fired and lose their income too.

Currently O/O bringing in rent for the first unit at 60% of the PITI [and pmi unfortunately] (easily worth 75%, but I was bleeding money after sitting empty for 4 months.)