Interested in buying first rental property near me. West Texas

[Randy McDonald]

Hello all and thank you for taking a look at my first post on BiggerPockets. I live in Andrews, Tx (West Texas) where the oilfield has been booming. I am getting ready to purchase my first property as my primary residence while I attend college in Odessa. I currently make $14/hr in fast food and plan to hold while I pursue my ADN in Nursing. After I graduate I plan to use the equity in my house, tax returns, and saved money to buy my first rental property. I have heard that the big cities such as Dallas/Foot-worth area, San Antonio, and Houston are the best places to invest in rental properties but as a first investment, that seems too far me manage. I was hoping if I could get some advice on how to manage my properties if I do invest there or if there is somewhere closer that would better suit my needs. I don't want to invest in Midland or Odessa because their markets are run mostly by the oilfield. I have recently been scoping out Lubbock and it seems promising as a strong market and a college town as well. Anything would be helpful because this is my first investment and I would like to know what not to do and what to look for to maximize cash flow.

[Cassi Justiz]

I think Lubbock is a great market with a lot of potential. The prices don't seem to jump around as drastically as the oilfield towns do. There are several BP members from Lubbock that are really active that could probably give you some solid advice. 

Like a lot of the other markets, it will really depend on what you are looking for. Lower end houses are good for cash flow, but come with their own headaches. Same with areas with a lot of student housing. I would figure out how much you can afford go from there.