Couple things I wish someone told me when I rented out my primary in Katy:- your taxes will go up dramatically over time - cash flow is inconsistent- while Katy is a fantastic rental market it's still competitiveTo answer your questions: - yes, the homestead exemption will increase your taxes at a faster rate but you can protest them either yourself (I don't recommend as I've tried and it was a pain) or with a professional service- To start, you're either going to pay for books, classes, etc. or pay the school of hard knocks.

Both have good school districts and are desirable.

I got my real estate license in my late 20's, kept updated on continuing education, but only activated the license after all my kids started school. 

Look at census data or local reports.Explore the Neighborhoods:Amenities: Properties close to schools, shops, and transit tend to attract more tenants.

But city governments, schools, public libraries and first responders could face major budget shortfalls."

Due to crime and poor schools . 

Only nearby city that rivals it is Amarillo (2.5hr drive north) and it does not have anywhere near the education infrastructure or $$$ inflow Lubbock has (at least not yet) with Texas Tech and associated schools, SPCC, LCU.

Purchase price: $205,000 Cash invested: $27,112 Bought for $205,000 in the Maine-Endwell school districtMonthly rent (pro forma with 3 month stabilization) $4,800Taxes: $9,238Insurance: $2,642Gas/electric: $0 Water/sewer: $2,451Total expenses: $14,280 I used a conventional 10% down.

No room, then I question how serious they are about training...and you need training....real estate school teaches you laws, contracts, and concepts. 

My current situation - I have a FICO of ~630 (no late payments or derogatory marks, just credit card debt from school).