If I am renovating a property yes I want that initial bump from cost to ARV.

I have about $75K in cash available for the down payment, closing costs, and initial reserves.Ideally, I’d like to invest somewhere in Texas, but I’m open to different cities and submarkets.

If you go hard money, you’re talking points and a much higher interest rate for the initial loan.

With the profit from the first deal I would pay for the initial investment technically.  

I'm able to pull information on a property's initial sale date but as we all know those rarely end up being the actual sale date due to postponement/adjournment/etc.

And what assumptions did you initially underestimate?

In this market, I think with a decent length hold your comment is likely accurate but the initial years will likely be challenging.  

I have a free property since the tenant is buying it for me.2) When the appreciation is equal to the initial DP (the equity I paid for). 

An example will illustrate the consequence.Suppose you purchase a property with an initial cash flow of $1,000 per month.

I tried initially incentivizing her leasing team so that it could fill up with long term tenants.