We had a gas company drilling for a bit and it made it profitable, but due to the political climate it doesn't look like they'll be able to do anything else until some things change. 

I mean climate change.

It's a really unique state with everything from desert to lakes and boating, skiing, hiking, golf, literally anything you want to do outdoors and they have the climate and topography to do it. 

In any case in the current world and political climate I strongly recommend working with a property manager even though thats an 8-10% hit on gross revenue (though a good PM is very much worth that IMO)  I would recommend trying very hard to avoid buying a single house to rent out.   

But the most important point you brought up is water availability via climate change.

Our professional approach and almost 20 year history gave us an edge over the unintentional landlords sitting on an empty homes they’d moved from.Ironically, our State’s anti-growth policies combined with a hyperactive business climate have forced extreme appreciation and rent growth throughout our region.  

This is where BP will be invaluable as you will be able to network and find investors local to the areas that interest you - local knowledge is essential to ensure you do not purchase property in the wrong area; that you understand the local climate, demographics, economy as they all factor into your investment.

Am I right or are these the going rates in today's climate?

We would love to meet local residents and learn more about the investment climate in and around Dallas. 

Universities are goodPolitical Climate (I like Red over Blue) I will prefer not to buy in California or New York, New Jersey, Maryland.