There are always opportunity on the MLS....properties that are listed/categorized incorrectly....properties that rely on public record square footage that is not accurate but the broker is too lazy to verify and simply relies on the autofill data, properties that have base zoning that allows for a better use, properties with unique characteristics that are not properly detailed in the marketing information, properties that are simply listed over priced and become stale and are good negotiation opportunities. 

Is there something unique or odd about the property that will leans one way or the other?

What is your price range/down payment amount?

It shows the properties in this neighborhood range from 22K-70K, which would make this property 17% above the high end of the market.The projected renal income also seems to be a bit high, but if the property really is at the top end of the market (like the pricing would suggest) this might be accurate.If you assume the above rental estimate is accurate that would take this property from being above the 1% rule to below.Overall I get that on a listing you would want to be aggressive, but the price seems very aggressive. 

There is a large stocked pond on the property, and we are dog friendly, so I think those things alongside the Amish attractions make for something unique.

I am not averse to something in the 10-35k range but would need to find the right mix of location and situation to pull the trigger on a project like that.

Quote from @Lauren Rangely: I’m sorting out best options for a house that my husband bought in 2008 which has been a rental for years now.  

Remember your situation is unique so it's important to consult with a tax advisor or CPA to explore all available options and ensure compliance with tax regulations.Thanks!

I'm part of group real-estate  investors from Israel, looking to purchase our first investment property in Dallas for buy and hold.We would love to connect with local real estate agents, investors, and property managers who can provide recommendations for good Dallas neighbourhoods and suburbs to look in our price range of $200K - $250K.As first-time buyers in the area, we would really appreciate any advice on great areas to buy rental properties and also any tips on evaluating properties and neighbourhood in the city.Does anyone have suggestions on specific suburbs or zip codes we should focus our search on?

Price range is $1M with $200k down payment.