But I would add that at the price point some of these properties seem to be in, I'm not sure how much appreciation you're really going to get.And to me, thats one of the big 4 ways that real estate makes you money.1) Equity capture - when you buy at a discount.2) Net Rental income. 3) Principal paydown.4) AppreciationTechnically, there's one more - tax benefits - in that you can use depreciation to shield a lot of your rental income from taxes.  

Though the concept has taken off, it still hasn't captured enough market share to force national lenders to adjust their approach, but it cannot be discounted. 

I try to conduct inspections to capture these things early.

I apologize for the captures being sideways.

Very robust form builder, lead capture, CRM database, email tracking, and direct mail all under one roof (with various price points depending on bells and whistles):

Equity capture when you buy it below current market 2.

Secondly if you are going to come to closing with $18k there are ALOT better overall deals to be had in Houston that offer both monthly free cash flow AND equity capture the day of purchase! 

I am not trying to be controversial or pose an attack in any means, I am just saying, if you build a good team around you and you do your due diligence you can find a means of investing in any part of the country if you ave the financial means to do so and can capture the deal.Happy Investing!

If it was $275k rehabbed, all majors replaced within the last few years, and you could capture $2400 right off the bat ~ I'd be a bit more intrigued, but I would still look to see how I could improve the ROI.IMO ~ I'd shoot high on your rehab estimates, account for a new HVAC (x2) and roof, and put all that information in to an offer.  

While the U.S. is nearing what many economists say is full employment, the jobless rate “probably does not fully capture the extent of slack in the labor market,” she said.