If rentals are in high demand, I might play the long game on this one and hold for several years.

I expect that to be the case for the next 3-5 years so if a cost seg just front loads the same math rather than an even spread, I guess I'm best to play the slow game.

Dallas and Houston moved down.The goal is to help real estate investors, policymakers and local governments understand which geographic areas and job categories will play the largest role in economic growth in the coming decades."

Just to play the devil's advocate...I get what you're trying to do, but a 100% allocation to (presumably US) real estate isn't very diversified at all on a holistic level.I'm a big proponent of a strategic mix of real estate, equities, bonds, precious metals, and/or cash depending on where we are in the economic cycle and what the intermediate term outlook is. 

Kansas City/Midwest has seen a flood of investors from out of state, going for the cheaper inner part of the city.My son rents a 1907 exterior stone, Oak floors and trim, near Westport from a person from CA.That area has and is going through gentrification making some good returns.I play the outer burbs on Ks side making great return in rent and capital appreciation.It has become so hot on the KS side that finding deals is more luck with lots of sweat.

If you choose that route, you could use some of that $20k towards improvements on a fixer.The alternative would be to find other low priced metros to play the cash flow game.  

If you're buying in those cities as a buy-and-hold strategy, you're banking on potential future appreciation as your main strategy.If you don't want to play the appreciation game, Airbnb, flip, or new build... it's quite simple.

You then can play the "sales" game - Start the rental listing at $950-975, allow them to talk you down, just hold strong at $900.

And then the taxes are much higher.If you want to play the capital appreciation game, be my guest but this is pure speculation.

I still play the market, both long and short positions.