I'm born and raised in Houston and now work with a full service long-term rental management managing over 300 doors - all SF or MU (up to 4 unit).

I would venture to say very few landlords correctly hold their deposits based on local landlord/tenant law but as long as the money doesn't walk away and is not wrongly withheld from tenants its highly unlikely wrongfully storing the funds will become problematic.

Renting is the last thing I would do personally unless it is less than 12 months max. 

@Robert C. hey shout out to Robert…long time no see!

I would suggest you up your rate from 8% to 10% to help off-set some of that cost. 10% is doable all day long here in Texas.

It doesn't take long to learn how to spot a good deal.6.

Real estate wealth is built through long term price appreciation, property becomes (usually) more valuable over time, especially if purchased in areas that have either gone through development or redevelopment.  

Their millennial population has seen a 25% increase over the last 5 years and the baby boomer population has grown by 13%.

Just know that if you are moving somewhere to chase the hot market, it will only stay hot for so long.

Lastly, you won't be able to HELOC (or any cash-out equity) and 2-4 unit property in TX while it is still your primary residence.