NAR Says - Existing home sales fall to lowest level in nearly 30 years and Median housing prices rose to a record high"The National Association of Realtors released data that showed existing home sales declined to the lowest level since 1995 last year, with 4.06 million homes sold on an annual basis.Meanwhile, the median home price median home price rose to a record high of $407,500 in 2024."

I have family in Houston, Dallas, and the Valley, I was networking with brokers in San Antonio, but the Taxes seem to be quite high as well in that State, although much favorable laws/regs on the landlord side.

And end of year actuals never pencil out like the spreadsheet...I'm not saying that it's a bad idea; I would just urge you to proceed with extreme caution.

Our solution is "Do all the work on the front end" - we vet the applicants internally and go through their info with a fine-toothed comb.

I managed a low end apartment block for several years. 

Quote from @Jacob Campbell: Hello - After listening to the podcast, I've made a commitment to purchase a rental property by the end of Q2 this year (ideally by the end of Q1).

If you find yourself in a similar situation, I highly recommend exploring the gift of equity deals and using sweat equity for renovations.

Since you are in an expensive market, commissions will also be high so you should be able to cover all of your expenses with just 1 deal basically, maybe 2. 

I've now used it twice.The program requires 10% down, must be a rental, no PMI, and has a very high standard of credit.Last I did it (Summer 2022), my rate landed in the low 5%.  

They find properties and approach Sellers and secure a price, then they seek out an end Buyer (you) and sell it to you at a higher price.