Recently, a lot of the market factors that kept people away, are the same that are drawing attention.

* What are some factors to consider when identifying these hot spots?

Of course, every owner's situation is unique and factors like the legal entity involved, purchase date, adequate passive income that can be offset with the cost segregation study, etc., will need to be considered.

Most are also not considering between the new construction product and the entry level SFH with risk being the deciding factor.

Factor it into your cost and decision. 

The factors you mentioned are very important to keep in mind for any investment, but I like investing in areas I know. 

As far as I know, your assumptions about the tax implications are correct for non residents, it was one of the main factors that stopped the idea of investing in Spain for me.

This is primarily due to two key factors: low inventory (leading to tight margins) and high interest rates.

Market Selection: What factors do you consider when choosing a profitable location?

As always, make sure to run the numbers carefully and factor in local property taxes and HOA fees, which can vary widely in North Texas.Delayed gratification is key in real estate investing, but with patience, the rewards can be life-changing.Best of luck with your search