Please Advice Investing 120K in Dallas Market for 1st Home Buyer

[Bo Sim]

Hello Biggerpockets,

I recently joined BP and excited to get to know y'all.

My initial plan is to buy-and-hold a SFH, preferably within 30 minute of work (75023) and 1,300+ sq.ft. 3 Bed 2 Bath. Likely I have to renovate the house. Furthermore, when ready for the 2nd property, I want to move a great ISD for my children (I don't have any yet). Therefore, I want the 1st property to be competitive rental unit in location with high contract renewal rate. What else should I consider when investing in Dallas market? Should I consider other investment strategy?

Below is my current asset and status to help you help me. Appreciate y'all!

[Status]
Liquid Asset: $90,000 (stock, bonds)
Non-liquid asset: $30,000 (pinch-proof 12 month living cost)
First-home buyer
US Citizen
Credit Score: 788
Work Zip code: 75023