My plan is to set up a syndication fund with Canadian (and U.S) investors to purchase short-term rental properties in the Puerto Vallarta and Rivera Nayarit area (which is booming).

STRs are a great way to make money, that's for sure...but it does not come without risk.

As for the areas to target, my goal in getting our feet wet as real estate investors--and since we plan to be living in Sac--is to find a property we can live in while renting out one or more units to help cover our housing expenses, which we can then hold and continue to rent out when we move.

This area is going to see tremendous growth as the city of Bryan continues to expand on its Midtown plans.

Which areas of NJ are you referring to? 

I live in the Tyler, TX area, but I hold my mortgage licenses in Pennsylvania and Texas.

Murray Hill is a great area that will fit your budget and allow you to maintain occupancy. 

That said, I highly recommend speaking with a local professional in the DFW area to get insights tailored to your specific goals.

We WERE in the "nice area".

It's a 3 Bed 3 Bath new construction home in which we love the area and think there is going to be a lot of appreciation in the area as it matures.