I’m looking to invest out of my home state, Texas, and have narrowed it down to 3 markets.

I used to think that cold calling was the only way to get off-market deals.

Make sure you learn the markets.

However, the property’s cost basis (what they originally paid) carries over to you, meaning if you later sell, you may owe significant capital gains tax on appreciation.Alternatively, selling the property at fair market value eliminates gift tax concerns, but your in-laws may owe capital gains tax on any profit.

The markets have changed quickly, and what worked 5 years ago may differ significantly from what will drive success today.

@Todd Anderson totally agree on finding a mentor in the market to learn from.

We scan and analyze every new listing in an investor's target markets and send an email alert of high-potential properties based on their custom criteria. 

Wayne market? 

Rules vary significantly, and you need to be aware of licensing, taxes, and any restrictions.Local Market: Analyze the STR market in your target area.

Congratulations @David Shaun - those are awesome numbers, and should hold up with the low liabilities, regardless of market.