Some editing could strengthen and less is more.

I will tell you that from the world of ALL INVESTORS... including Stocks, Bonds and Real Estate, that kind of return is probably among the top 1% if not the top 0.1%!!!!!

Mortgage bonds have multiple alternatives they weigh against.

Amazingly, they suddenly figure out that they happened to leave some spare rent money under the mattress or their rich uncle left them a bond they can cash out.

(b) A writ of possession may not be issued before the sixth day after the date on which the judgment for possession is rendered unless a possession bond has been filed and approved under the Texas Rules of Civil Procedure and judgment for possession is thereafter granted by default.

Also consider that pest control is much more important in the south as well as termites/bonds.

I view rental income as a high return preferred bond with better tax characteristics and hopefully purchased at deep discount to NAV- net asset value.

Take the money and throw it into a safe liquid investment like a municipal bond or something else until you need it (to offset the interest).FYI, those closing costs are way high for a VA loan.  

Were a lot of those improvements funded by public bonds or private money?

I'm trying to strengthen my mindset.