DFW area condo/townhome or SFH - need advise

[Shyam Sundar]

Hi - Just stumbled upon this forum and kicking myself for not having found you folks sooner! I am finding a wealth of information and knowledge from people who have walked the path I am trying to now. I am unfortunately several years late but better late then never!  

I live in my NJ condo and looking to diversify and build a decent RE portfolio starting with DFW area, as there is a huge chance I might relocate in next 2 years. I am working with a realtor and bid on a few SFH in usual high bid towns (Frisco, Allen and even FW) with no luck. The one I managed to win paying big premium, had massive issues with inspection and had to back out given the cost math didn't work out. Back to the drawing board now.

My strategy is to buy and hold 5-10 years for appreciation and I am ok with +ve small cash flow monthly ($100 or more). Current budget is 300K, can go up to 350K if I can swing the cash flow math.

I have a couple of questions that I hope folks here can advise:

1. Should I change my strategy for looking at condo/TH in Frisco, Allen areas if the cash flow math works even though HoA is higher. My current NJ condo if I rent should get me 300$ cash flow even with a $250 HoA, so I am wondering if I should try and replicate in DFW? 

OR

2. Should I just forget condos and look at SFH in DFW area - if yes, where to focus? Even McKinney seems super hot now which is where I am going to try and make offers. I saw threads about Sherman and up north but do not find decent inventory there. Are towns like Little Elm, Wylie, Corinth worth considering?

Appreciate any thoughts/suggestions as I find my way around REI!

Thanks