Thinking of buying an investment property in Dallas. Im out of state. First investment property. What software is available (free if possible) to do analysis on the property? Like how much can I get for rental income, Cash flow, etc.

My brothers and sisters are pooling money together to buy the investment property. What type of bank account do I need to open so all of us can transfer money into? Thank you!

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Dallas property taxes will eat up your profits with real risk of not making much unless you are buying and holding hoping for appreciation.

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Why Dallas ? Texas is very hard right now to make money. Especially from out of state with additional property manager fees and the high interest rates. Taxes will eat up the rest.

I have many rentals in Texas. My appreciation and equity has been great. I bought at fantastic prices and many have lower interest rates. My portfolio is still only cash flowing a little bit. But I keep them because my equity is so high and takes time to pull that out or sell.

No way I’d make money today from out of state.

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I can't discourage you enough from buying out of state rental property.

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if the tenants stop paying rent and trash the place on their way out what would you do

Wait for a couple weeks until the economic panic sets in.

We are aware we wont make much, if any. Our plan is to hold onto the property for the appreciation. Then refi later if interest rates dropped.

Not a good time and Dallas not a good place for investment property - def good place for primary residence . You won’t cash flow for very long time - unless that’s okay

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