But your detail of the scenario has cleared things up, and has actually helped to understand the whole process much better.

So the returns actually end up being higher, despite the seemingly lower cash flow, with leveraging.

Didn't think about doing a skim coat, that's actually a pretty good idea since that damage is apparently 20 years old.

Who do you use, and if there is an all in one system, like cozy, that actually does good background checks...

It's weird that I'm actually in the market to purchase more because I do understand the power of Real Estate, I just overlooked the power of proper management.Thanks to all who responded!

What actually matters is whether or not the property is cash flowing, and how much.

Thanks for the reply according to my realtor she actually helped me understand that portion of the contract better if I don't renew the lease then the lease just expires so I would have to have them sign a new lease and next time if I wanted that option check the box.The odd thing though there is a section stating it could renew on a month to month but she is stating since that section is marked out I would have to press for a new contract to be signed by the tenant which they are going to try to barter with me on and get lower rent so kinda stinks. 

We'll be starting an Austin Note Meetup the first of the year...Actually, this the third time this week I’ve been told to check out Quest IRA, so that’s definitely something I’ll do.  

We use them for leads which are sent to multiple people at once if you submit your info you will be contacted my mostly brokers and very few actual lenders with their own money.

So your numbers are not going to be actual.