I would be cautious buying in the saturated areas because there are so many similarly sized properties that price is becoming increasingly the deciding factor. 

Definitely worth factoring into your strategy, though

I'm sure they are out there but this is just a rule of thumb and I would rather use J Scott's approach when he analyses deals outlined in his book.You factor in your desired profit as a cost and you work backwards.

House hacking a duplex would be my ideal situation, but I find it challenging to find anything available in the DFW area in my price range.

Taxes, costs, eviction complexity, etc are going to be a much bigger factor in your success than anything else.

market rent increases has been very small in my sub markets (I suspect near flat metro wide).Ideally the property appreciates and historically it is true.  

Ideally you would want to transfer the funds you expect to use for the purchase to your new entity for your records to create the separation from personal to business. 

You can use form 3115 to catch up with any depreciation not previously calculated.If you have a condo, it is possible that there is no land allocation.Furthermore, if there were any assessments made by the Condo Association, you want to factor those in as well.

Most ideal would be seller financing, but open to creative strategies for a cash-flowing property. 

@Vincent WeselakIt’s a good idea to get an estimate for your insurance costs upfront since this can vary based on the property type and location, and it’s a key factor in evaluating your cash flow.