It really all depends on the amount of risk you want to involve yourselves in. 

If someone has REPS then potentially they can use all of their rental losses, from all properties, (there is more nuance especially with both LTR/STR) if they are materially participating. 

I tend to invest more in South Abilene and many in Wylie ISD but have seen investments produce good cash flow all over Abilene. 

I recommend everyone always create their own IRR calculator as they can get pretty complex and oyu will want to understand all the inputs and outputs. we provide a basic one to those in our membership group but I always recommend build your own and understand not only the numbers but sensitivity that lines up with those inputs.If you are hard money lending thats simple as its just a column of dates and amounts for loan provided and monthly interest and points.

All the best,

All the good things are on the way!

Set your investment criteria, systems, and rules—and stick to them.2.Tenant management is all about structure.

Fix it.We eliminate as much landscaping as possible: we take out flower beds and most decorative features, ideally, lawn mowing is the only job tenants have to do, because we know that's all we can expect from most.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

All my HOAs require licensed and bonded workers.