You are in Houston. 

Excited to be a part of the Bigger Pockets community.

@Ronald RohdeThe property is located in TX, near Houston if that matters.

Memphis is a great place to invest, I'd also recommend areas like Little Rock, DFW, Houston or Oklahoma.

I need long-term renters as a back up.I saw a basement apartment for rent in LauriaVille in a gorgeous remodeled home that’s been listed for $1050  It’s been sitting there a couple months and that concerns me because that’s not a lot of money for quite a bit of space in a great house.It’s been sitting there a couple months and that concerns me because that’s not a lot of money.

We are going to look at a 5 room apartment building next week for STR and MTR use.

What if you have an apartment complex with 20 units?

are areas worth looking into if you want a balance of family living and business opportunity.Texas PerspectiveTexas is a great market for long-term rentals, especially in cities like Austin, Dallas, or Houston, where population and job growth are booming.

@Polat CaglayanI've never seen a formula but here is a general rule of thumb for multifamily:The class of an apartment refers to the quality of the building, which can be determined by a number of factors, including age, location, and condition: Class A: These are the highest quality apartments, typically built within the last 15 years.

Housing mix will change; more condos and co-ops and multi-family apartment buildings.