I'd look at Garland, East Dallas, Farmers Branch, Carrollton, Irving, Arlington, and others.You can get into some of those areas at $60K with $900 rentals and still be in relatively safe, working class neighborhoods.If you are willing to rehab, you can buy for $25-45K, fix for 15-25K, and rent.for $850-$1100.

Hi Jon,2 bed/1 bath goes around $8001 bed/1 bath seems reasonableefficiency seems reasonableIt's in the Richardson/Garland area.

The Dallas area is so hot right now, anything ready for someone to move it is not going to be a 'deal'.Look in Garland, there are some bad areas, but also some decent areas, try to keep the house newer than 1978 because of lead based paint issues,,and find something that needs work.Look for short sales, they are a hassle (I have one in Mesquite that has been under contract since November), but if/when they come through can be good deals (and retail buyers don't want to go through the hassle).I use 2.7% for my base for property taxes, and don't pay attention to the current appraised value on DCAD, believe me, DCAD can and will raise your appraised value, don't set yourself up to fail by basing your numbers on "hopeful" numbers, figure taxes on what the house is really worth, if they don't raise them for a few years, then its a "present"The City of Garland is very rental friendly (unlike Mesquite)

I'd like to add that his house is located in a B+/B- part of Garland, an eastern suburn of Dallas. 

I've already started a direct mail campaign in the Garland area, which should be a decent area that fits my above requirements.To be specific, I have a rental property already but I've never rehabbed a house before, so I will need help with everything including:How to set up an SDIRA and use it to fund a purchaseHow to set up a legal entity for a partnership to split profits.How to perform thorough due diligence on the house.How to select good general contractors and how to evaluate their bids for extensive rehabs.How to manage rehab progress as an out-of-state investor.Let me know if anyone is interested in this, or whether or not I need to make any changes to attract experienced investors.Thanks,Ray

Garland is very hot now for that price range. 

Plano, Garland, McKinney, and Arlington just so happen to be quick grabs but you can make just as much in any other area if you've got a great deal.

Flower Mound, Keller, and Garland.

And Mesquite and Garland provide some opportunities.The key is to find a deal, and know your neighborhoods.

I have been looking in Burleson, Garland, Richardson, Watagua mainly.