Newbie PCS'ing to San Antonio

[Kyler Dabolt]

Good Morning Bigger Pockets Community. I will be PCS'ing to San Antonio after spending the past four years in Germany. This will be the first house I will have purchased, so I am new to purchasing a home. I will likely be in San Antonio for only a year (due to potential follow on assignment) and was looking to purchase a house to live in, and then rent out after I PCS'd after that year. I have been become preapproved by a lender and am working with a real estate agent currently. I was originally looking for a multi-family to house hack while I am there, but finding a multi-family in that area is very difficult to find. My agent highly recommends I look for a place east of the city as it is between ft. Sam Houston and Randolph AFB. However, most houses in that area are 200,000+. I plan to utilize the VA loan with 0% down which increases the mortgage payment vs. a down payment. I am trying to stick to the 2% (1%) rule and utilizing the BP calculators, but most of these houses would not positively cash flow (per my initial calculations). My realtor informed me property managers they utilize in the area have no issues renting out the houses in that area. However, the median rent is 1,500, but most of those houses are 200k+ (which doesn't follow the 1-2% rule?).

If anyone has any tips or advice on what I am doing wrong, or can assist me in any manner I would greatly appreciate it.  Not sure if I am looking in the wrong area, or potentially calculating the cash flow incorrectly. 

[Karl McGarvey]

@Kyler Dabolt throwout the 1% or 2% rule. They are guidelines that are meaningless with todays prices. Either a property cashflows or it doesn't, and those guidelines don't guarantee cashflow. Not putting money down is going to affect your ability to cashflow, and with a VA loan you will have a harder time buying a fixer upper because of VA Appraisal rules.

First thing is find a realtor who actually owns rentals. TONS of agents call themselves investor friendly and can tell you about a PM in the area who can rent properties, you need one who has their own properties in the area they are trying to sell you on and show you how they do things for their investments.