@Sam Sarno Are you looking at multifamily or single family home?

Purchase price: $195,000 Cash invested: $54,156 Buy and hold single family home with a 4 Car Garage.

Hypothetically, you'd need >2K rent on a 250K home to get more than 5% CoC (ballpark numbers with a few assumptions, mgmt fees, putting 30% down, etc), and it seems very unlikely this would exist where I'm looking..

Open to an existing home with a large lot/acreage.

With your background in real estate investment and home building, you’re already off to a strong start.As a real estate professional in DFW, I know how competitive our market can be.

Lightbulbs, batteries in smoke detectors is on them and written in the lease.You can really do whatever you want if it is written in the lease contract but bear in mind they don't own the home and won't care on certain things.

Not sure if these are all investment properties or if you're including a primary or second home, but my suggestion would be a cash out refi of an investment property to pay off your debt, and a line of credit on your primary to have available for reserves if needed.

I really would hammer home how your company is local, knows the market, and goes above and beyond to earn 5-star reviews.  

In reality, most older homes will cost you considerably more in maintenance, capital expense, and vacancy (people just generally like to live in and rent newer homes).

Quote from @Michael Soukup: So I recently just sold my home after a divorce.