If you offer 100k on a 150k listing in the first week, they'll probably tell you to go fish.

Other than that you need to look for houses not on the MLS, inventory seems to be low in this area and there are a lot of people fishing in a small pond.

Everyone fishes from the main pond I am looking for the lurkers in the side pond lol.  

He fished around for some vaguely similar properties in nearby neighborhoods that were far more expensive to justify it. 

  ( not withstanding the money out of escrow part of this) which is a whole nother kettle of fish as others have posted about.

Basically, your question is like saying do I want to fish in a creek or the Amazon River.  

EnergyNo state taxesPro-businessPanama CanalPort citiesCoastal areaFarming area (farming was huge last year)Cheap foreign laborTech hub (Austin)Conservative politicsReligious coreHighway access (transportation)Centrally locatedYouthful and energetic (Austin, Dallas)Higher ed (UT, TCU, A&M, TSU, Baylor etcEducation (13-15 students per class)Cultural significance (New dream state)Affordable housing (American dream)Raw landSports (hunting, fishing, racing, NFL etc.)Theatre and artsPoliticsThis is not all inclusive but Texas ranks high or top in all of these areas compared to other states.

I have been thinking that catering to a fishing community would be wise to have it rented year round. 

When you have a small portfolio, and you document your path correctly, now you can start to think about the bigger fish.

I work full time for a Home Health company and enjoy beekeeping, kayak fishing and traveling with my wife.