Thanks for the welcome guys,My understanding of the Temple area is that Scott & White medical center and the VA hospital are two major employers in the area.

I rent the apartment per room basis (majority graduate/post doc students). 

You also should factor in Capital Expenditures (Cap Ex) for the replacement of major systems.

Also factor in grounds maintenance, which depending on your area may include snow removal and/or lawn care and landscaping (this can run a few hundred dollars a month depending on the size of the property).I always ask sellers for their P&L statements for the last 2 years which should show any major repairs and expenses.Regarding financing I think you nailed it and should look for more traditional financing elsewhere assuming you qualify.

This way I act in the best interest for the buyer or seller and contractually they cannot just hop over to another agent.Here in SWMO we call a non-fiduciary role like that a transaction broker—basically, someone filling out paperwork for a commission—the agent is not obligated to give you anything but honesty, accounting and timeliness in filling out paperwork/submitting offers.

@Sunshine Chow@Joe Homs Hit just about every question you could want to see.When someone makes a post similar to yours I put these questions out there.After finding an HML that will lend where your prospect house is (most will only lend in major metro areas or have steeper rates if they do lend outside metro areas), I would ask these questions:What is your investor success rate?

Develop an operating agreement that spells out the purpose of the LLC who has what role, who makes decisions, how are differences between the two of you resolved and an exit plan.Have an attorney draft up the document so each party is protected.  

The role of host is quite different than the role of landlord.  

Atlanta has become a major logistics hub - largest airport, UPS HQ, huge FedEx presence, Delta HQ. 

Downtown is going through a major gentrification.