They only seem to sell properties prior investors are trying to dump.

Still a bit below market rent but tenants have been good/stable compared to what I have heard from other stories. 

If you underestimate capex reserves you not only get hit on your cash flows prior to refinancing you get smoked on your overestimated valuation.I would cut off the units at 4 instead of 5. 

One issue that I see with padsplit in Houston is that the people are very dependent on cars.If you try to have 4 people live in a 4 bedroom house and each person has 1 car. finding parking might be difficult for the tenants.The second issue that I see is that the rent's aren't that high compared to other cities making it less of an incentive for people to want to share a place.

Getting to that point when every month is costing you money is the challenge.Curious what sort of underwriting you did prior to purchase?  

Quote from @Kelly Schroeder: For landlords expanding their rental portfolios, have you compared DSCR-based financing versus conventional loans lately?

But we know less than 1/4 of people actually read the listing description - at least prior to hitting "Reserve". 

In contrast, if the property is passed to heirs, the heirs generally receive a step-up in basis to the property’s fair market value at the date of death, effectively eliminating prior depreciation and minimizing potential recapture.

- If a tool could save you hours each week, what would you want it to do first — find deals, run the math, or compare options?

Is it much more difficult to deal with smaller local incurance providers compared to the bigger insurance companies like State Farm, Progressive during a claim?