Dallas Texas Multi Family Deal Basics?

[David Bruce]

Hey All - been cruising here for a bit and am about ready to jump into the Dallas market in MF.   I would love some feedback and 'rules of thumb' in MF in the areas.  I'm an active RE agent in Los Angeles, have plenty of sales/rehab/build experience, but really only know my local market.  My objective is to buy several MF units that are as cash flow as possible, long term holds, excellent management, and with leverage.  For now, 1MM is the price point.

My challenges are:

1. Knowing the averages of what investors look for in the marketplace - is the benchmark strictly a Cash on Cash for return? Cap rates? GRM? If so, what is a normal percentage?

2.  Locating the areas that are steady and have growth potential in rental demand over a longer time period.

3.  How to structure the deal and align myself with an agent.  Here in LA we have dual agency, but in TX I understand you can't be repped by an agent on both sides.  What's the best way to have someone counsel you, use your license as an advantage, and get a better deal?

Any thoughts from the community are appreciated.  Love what we do here.  Thanks!