I won't buy in a war zone or where there are cars on blocks in the yards, but also not where someone is measuring the grass height with a ruler. lol The point is, I like to own in an area I'm comfortable living in and that has translated, for me at least, to having tenants that have expectations similar to mine.This is just my experience/opinion.

As long as your house makes acceptable cash flow to cover all of your expenses and bring in your desired income per month, no rule really matters. 

@Mark HamAs Texas is a non disclosure state, they are not required to disclose what it sold for, which will make it even more difficult.

You can find homes that fit the 1% -2% rule, really depends how you much you rehab and the vendors you  use. 

This project can be done under an Easy Permit; however, both the Electrician and Plumber would need Rough and Final inspections on this project.I further inquired about when Rough Inspections would not be needed and she responded with the following:"I would defer to the inspection office and New Construction bureau, I would think porches or anything that does not require have walls open can be without a rough inspection, I would although take a picture of the footings with a ruler to show the depth of the footing.

And you'd get a ruler on the hand to boot!

For example, suppose you have a hard rule - rent can't be more than 30% of tenants' annual income.

The 2% rule (rent should be at least 2% of purchase price) works OK for rents around $500, but the percentage can be lower for higher rents.

Recep Tayyip Erdoğan "arguably the most unpleasant character on the world stage: jealous and proud of it; a petty, unjust, unforgiving control freak; a vindictive, bloodthirsty ethnic cleanser; a misogynistic, homophobic, racist, infanticidal, genocidal, filicidal, pestilential, megalomaniacal, wanna be king of kings, defender of the faith and ruler of the universe'Other than his personal characteristics Turkey has out of control inflation and a crippled economy is always looking for a fight with anyone that will advance the 'caliphates' own interest; other than that...go for it. 

I'm a Ham as well and it was a busy night.Keep the folks in the area in your prayers as well as all those who have suffered from natural disasters this Spring.