In other words, take your $172K and leverage it into $688K worth of rental property.

A house that's similar, but 10% larger than another usually isn't worth 10% more.

Help me see if this is "worth it" or not.  

Then the lender would say that house is worth X% of the loan.

I have heard comments that homes in TX or GA need a major rehab after 10 years, builders use MDF for trim, pressboard under siding instead of OSB sheeting etc As an investor we buy 1960s homes, they have good bones and are worth an update.

Also something to note, I live in the North Fort Worth area and be aware that there is some school district drama brewing in Keller ISD that covers much of 76244 and 76248.

There is a profit but not worth the risk.  

Quentin, build your knowledge, make sure all this is done correctly.Banks rarely call the loan just because of the deed being transferred, something else triggers this, mostly because the investor decides education is not worth the money.It can be because the Insurance was not done correctly, the seller does not understand the process, the Title Company does not know what to do so they call the Bank and make a mess out of the process and a few other factors,If the investor is knowledgeable on what to say to the Bank if they call this is a fairly simple conversation to have.

Meanwhile, gross rents of $1,800+ for 3-bedroom single-families is an achievable figure, so it’s possible to generate cash flow if you lever modestly.There’s a bunch of other stuff that’s worth highlighting—the economy, demographics, neighborhoods, new construction, and more.

A property is worth what a willing seller will take from a willing buyer.Is it possible to buy a property in San Diego low enough to get 1% from it, yes.