San Antonio - Underwriting to $0 on SFH

[Steven Segal]

I was underwriting a couple markets as looking to purchase some additional SFHs. When I underwrite with 10% mgmt, 10% Repairs and Maintenance, and throw $100/month in the bank for reserves, I am seeing cash flow at right about 0. This seems odd to me on the market. The biggest thing at play is, of course, the TX property taxes (a bit confused there as well as I saw a $130K assessment have $1200 taxes while a $160K assessment have $3500 - these are Zillow numbers tho). I'd love to get some feedback and thoughts here.