The Dallas one was 13 miles away from SMU in a submarket that will likely not draw one student, one faculty member, or even one employee from SMU. 

Never was the Fashion District formerly the Galleria Mall described as Chinatown until the Sixers announced plans for their stadium.

IMOSpeaking anecdotally here; I had 2 clients this time last year rent out SFR both in Northland, both in Staley HS district. one was a tighter sq foot 3 bed 2 bath traditional split.

Appreciation here is likely driven by demand for established areas and school districts, which likely isn't the <$250k stuff.If finding cheaper stuff was my priority I'd probably look out of state.

Within those cities, I am targeting assets in central business districts (CBDs) and popular entertainment areas where large amounts of people congregate daily. 

I thought there was a ban on operating STRs in some districts in Dallas

Appliances and fixtures were old and tired.Basically, the core bones of the property were good, but there were a lot of things that seemed ripe for easy improvement.The location was great, right next to the town’s primary commercial district, with a grocery store 100 yards away, coffee shop/bakery, Post Office, drugstore, hardware store, hair and nail salons, barber shop, dentist, bank, a half dozen restaurants, and a variety of other shops and services.

Locals who live there and are right on top of these lower end units can make a go of it but out of state very tough unless you buy above the median price point of a given MSa and in the best school districts full stop.. this is where your best tenants will be.. houses are interchangeable.

With proximity to a hospital and a university, there's potential to attract both traveling professionals (for MTR) and students or faculty for long-term leases.

Purchase price: $270,000 Cash invested: $10,000 4 bed one bath single family home in small town with great school district, about 10 minutes from major city on Front Range of Colorado.