First time investor

[Yushengji Zhou]

Hi, My name is Roger. I currently live in Los Angeles. I get to know bigger pockets and the real estate investing world last year.From that moment, I have been saving up. So far, I have saved about 50k and i want to buy my first single family house rental property in Texas. I understand there is no way i can start with this amount of money and invest in my area and expecting a positive cash flow.That's why i choose Texas. My goal is to let rent fully cover my monthly loan payment and generates couple hundred positive cash flow every month.

I am considering to buy a house around 200k with some mild renovation need to be done. In that case, i am capable of covering the 20% down payment and closing cost with the money i saved up. I would expect a mild renovation expense about 8k. I am just curious if the plan is workable and if there is anything I miss or need to rethink about.

I realize that I don't know much about property management company, if I am going to invest in Texas. I really need to use a property management company. I wonder how everything works between property owners and property management company?

[Samuel Diouf]

If you're looking for properties under $200k that only need $8k in renovation and will cash-flow, you likely won't find that in texas. There are multiple cities in Ohio where you can achieve this though, such as Columbus, Cincinnati, or Cleveland. 

An $8k renovation expense would be a consider a very light rehab or just a turn around.