Price point: $70-100KCAP: 9.0%+Rent/Price: 1.3+Cash on Cash Return: 15%+I am really interested in Dallas and Houston because of strong macro-economic fundamentals like job and population growth, but have heard that both markets 'are farther along the recovery cycle and that means home prices have rebounded to a point where cap rates are suppressed.'  

Run the numbers in detail then apply fundamentals such as location and future cash flow when you get ready to move out of the other unit. you need to view this as a long term hold and assess accordingly.

Second having fundamental local economics of certain markets such as population growth, jobs, employers, curb appeal could help decide between a flip or buy and hold and this is especially true for buy and hold.

They basically teach you 8 of the 20 chapters, and in my opinion, much of the fundamentals is missed entirely.

Obviously there is deferred maintenance on the property, but an inspection with a contractor will  tell you the difference between some TLC and a fundamental issues with the home.Looks nice to me (not familiar with Iowa markets) but I wouldn't move on it until I speak with a contractor.

@Cameron Chambers there are lots of things you can do to go beyond newbie and before buying your first propertyFill in your BP profile... it's currently emptyBecome an expert in analyzing dealsBecome an expert in market analysis Learn all you can about a specific market or type of investingWhile partners certainly value experience, knowledge and sound fundamentals go along way.

The fundamentals are not there. 

Unfortunately, What Joe Gore said differed fundamentally from what other people said.

It seems I need to learn wholesaling fundamentals first!

The fundamental problem in this scenario is that the PMs don't have any exposure.