If I do move, I'm considering a house hack on a multi-family, ideally a 4-plex.Honestly, I'm familiar with downtown Houston, Spring, The Woodlands, etc. but nothing past the Galleria on the West side. 

My ideal location would be north woodland close to Washington park 

We ideally hoped we can have at least one tenant move out so we can renovate, but that doesn't seem to be the case. 

We are considering purchasing property on the Southwest/Gulf side where we plan to live for the first year before transitioning the property into a rental, open to STR or LTR.We would greatly appreciate any insights or recommendations you might have regarding hot neighborhoods in this market that are ideal for a strong ROI and investing within our budget.

Like you just said it looks good on paper and it seems the most ideal although I don't understand how it is difficult, could you maybe expand on that? 

If you intend to do the rent by room strategy the ideal situation is for each guest to have their own bathroom or, at the most, to have to share it with one other person.

Let me explain my thoughts...The reason I buy communities and the reason I deal with Berkadia on my debt instead of a local bank is that both the asset and the process are more institutional, rational, and efficient.

That being said, I'm wondering if you attracted an operator at the far corner near F and 4th street would be most ideal. 

There was a post a while back (can't recall who) that mentioned that the revenue vs purchase price ratio is the most ideal for 1 bedroom units and 4+.

Ideally the property cash-flows on it's own when you move out.