Typically, the tax is based on the assessed fair market value of the property at the time of the transfer, even if it’s not a traditional sale.

@Zach Howard some copy & paste advice below:)-------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I accept the need for a competent PM and the reality that competence typically ain't cheap.

Typically, higher income areas have lower crime, more amenities, better schools.  

These straightforward requirements make the process accessible and convenient for buyers.The initial setup costs typically range between $500 and $1,200 USD, while annual maintenance fees are generally between $500 and $700 USD.

The profile of the typical Houston traveler is someone coming in for work.

Typically it would be the tenants responsibility to provide access.

It's people who understand that it takes effort to become successful, typically from CA at this point, and have a way of showing those characteristics, do best.

This is largely because I can typically get higher rents in B and A-class neighborhoods without relying on Section 8.I’d recommend focusing your search on C and C+ neighborhoods, for both multi-family and single-family homes with more than three bedrooms.

How much upfront costs are typically involved in a project before you know if it's a viable project to pursue?