Investment Info:

Single-family residence buy & hold investment.

Purchase price: $63,750

Cash invested: $13,000

This was my VERY FIRST deal. Had no idea what I was oding.

Bought for 63,750 off ...

Would be a great achievement if it works - I would also reach out to the railroad track company to ensure there won't be any disruptions or issues they may have when/if you start the development process. 

I think it might be better to target an inherited list.

Have a plan and target property, and be ready to buy. 

My lender is about to prequalify me for $200-300k, and I target Texas, being living and working in California, LA, so an out-of-state investment.

My suggestion would be to partner with another GP that is a strong operator and has a presence in your target market.

Find local meet ups and find a mentor in your target areas.

Most investors driving for dollars target deferred maintained properties though.

What FICO score range are the targeted renters expected to have?

I think what is becoming more and more important is having a solid investment thesis and understanding of your target market and the value proposition you are offering to your customers through your properties.