Do you have a personal connection to either of those cities/markets?

I moved to Austin because of a life change and am starting over.

Yea this is a long-term personal play more than a strict STR deal. 

The key is to identify personal property from real property.

And it's an asset that will grow with you for the rest of your life.

I purchased my first rental property a month ago and I’ve learned more about real estate and home building in that one month than the rest of my life combined.

I poured my life saving into it and make it a duplex.

Quote from @Daron Williams: I just invested in a tax deed here in texas it was a beautiful lot right on lake sam rayburn. i have it on the market for sale the only problem is you have to have two lots to build on.. i found the person that owns the lot to the right of me and there willing to possibly sale there lot the only problem is i dont have the money or the credit  to purchase it.

I'm sure I could go to some midwest markets or even some more depressed markets in my region and get better pricing, but that's out of my wheelhouse at this point in my life as I have no desire to learn new markets when I'm closer to the end than the beginning. .Sure, obvious but over looked.

I'm on house number 4 that I've lived in and renovated, so I agree that's a good strategy (I've done it just through life, not actually a purposeful strategy).