Then again 20% down will drain my capital initially but I able to obtain a FHA fairly easily down the road.

So, the city sees the trash bin and they catch him remodeling the entire building without permits.Now, that walls are opened in the building this fool finds out that the entire 25 units needs new water piping and new drain and sewer pipes underneath the entire building.

I think technically you could start an eviction for that, the slow kind of eviction (for reasons other than non-payment), but then you’d get into court and the tenant would say no they don’t live there, they just visit a lot, etc.In practice, if nothing bad comes up on the criminal check, and they pay their rent on time and don’t disturb the other tenants in the building, I have generally been inclined to look the other way.

My "hobby" is large enough, I need to slow down and just be satisfied with what I have.

Unfortunately, my pay isn't very high either, so it will slow things down in the mean time. 

Not too sure if you’re familiar with the Dallas permits department or planning commission, but they are as slow as molasses can get.

Will my investment go down the drain?

Converting a garage to a residence is sometimes more complicated than it would appear due to drains/sewer issues.

Hi, Thanks all for the great responses...was planning to answer earlier but had to tend to three of my sheep which decided to all stray in different directions...mainly was running after a contractor that missed a deadline and then slowed down even further since he realized my house is not rentable for fall semester anyway...so what's the rush..Wanted to add some more context.Both portfolios are composed of 4-5 BR houses and are scattered all around campus within walking distance to campus.

@Jon KlausThis has been a good idea in my area for a long time, don’t think it ever slowed much if any in my area