@Brian BurkeI bet none of the investors asked the question of “what does the capital stack look like on this deal”Probably was variable rate debt as well…

As far as choosing a neighborhood - your best bet is to find a good investor-friendly realtor who can help you.

I don't think it's a great strategy if you are just getting started.If you have the financial stability and experience to take on negative cash flow betting on the high appreciation then I think there isn't a problem with this strategy at all. 

For example:General-Filters (furnace, air conditioning, oven exhaust, refrigerator, and water)-Stove burner when the “eye” needs simple replacement-Batteries and remotes that service the premises-Fan and light pull strings-Smoke and carbon alarms testing and batteries-Ensuring appliances are properly plugged in, hooked up, and used-Removing dirt, debris, and lint in and from connection pipes (e.g. clothes dryer)-Tighten loose screws on all home functions (e.g. doors, hinges, handles, socket -Balancing off-balance appliances-Cable, internet, and phone jacks-Fire extinguishers-Systems operation (e.g. security, irrigation, HVAC)HVAC-Monthly A/C filter and drain line maintenance Electrical-Reset “tripped” GFI breakers-Light bulbs (throughout and at the end of the tenancy)-Blown fuses-Reset breakers in the outside and inside breaker boxes-Socket and plug outlet coversPlumbing-Unclog drains or toilets-Caulking around tubs and showers as needed-Gas pilot lighting-Leaky faucets and shower heads-Toilet flappers, handles, seats and seat lids, tank lid, and flush kit-Sink and tub stoppers-If septic tank present, use RID-X as directed on consumer box-Proper cleaning of garbage disposal-Loose faucets and sprayer heads and hoses-Faucet filters (i.e. aerator)-Open exterior plumbing clean out when necessary (e.g. sewage backup)Exterior-Routine lawn (and pool) maintenance-Adjusting sprinkler heads as necessary-On the last month of tenancy, tenant must perform required lawn maintenance no sooner than 2 days prior to vacate dateThere’s a lot to consider as a landlord.

I bet most realtors would tell you that it adds value too...whether for a sale or rental perspective....And have you heard the new dishwashers?

. :-)I'm willing to bet that the real GCs in Texas are every bit as good as in Cali.

Since the population in these states is relatively small, many lenders avoid them.Face-to-face at local real estate clubs, found through Meetup, are your best bet.

For example, a 10% return (or reward) can be worth the risk if you are investing in a Class A single-family rental in a great market with an A+ tenant, but not worth the risk at all if betting on a 16-seed to make it to the Final Four in March Madness.Investors in mortgage bonds utilize the risk-and-reward framework when allocating how to invest capital.

Go to the source and I bet you get the answer quickly. 

I'm willing to bet money that there are some Bay Area people that regretted selling.Would run the numbers with different scenarios and evaluate this carefully, maybe with your tax advisor too.