The interest rate being paid on the debt as compared to the interest rate to be paid on new debt used to purchase a property.

@Nikhil MascarenhasDifferent people go different routes depending on their risk tolerance, their amount of equity and compared to other assets owned, how patient they are with a complicated set-up and high legal fees, whether they view the $800 as game-changing or just a cost of doing business, etc. 

Yeh, I don't have anything to compare to that.

Comparing the pros and cons of purchasing the 2 home types is not my aim here.In Scope: The change in the sales price of new construction homes from when they were first sold after construction to when they were sold subsequently versus the change in sales price for existing homes over the same period.

I went one for one down the coverages comparing US Coastal and Proper and I did much better with US Coastal.  

The rent to price ratio's look really good for Texas (as well as compared to national levels) and my models cashflow at 20% down if the rate is at 5% or lower, really at the current rates its more breakeven but there Refi potential over the coming years and there is appreciation upside in my opinion with the new Tom Thumb, HEB, and Target breaking ground this year making Forney a more classic style suburb.

You'll likely find that some areas don't cash flow based on their rent amount compared to price points.

Are multi-family rentals a strong investment in the Tampa area compared to condos/apartments?

Lower priced markets in central valley have better rent/price but lower appreciation compared to bay area.   

The renovation of a home can set it apart from a competing comparable property.