I am looking at smaller deals (less than $1mm purchase price).ThanksGary

Feel free to ask me anything about the process, the numbers, or how deals like this work.

how did you find the deal?

Anyone dealing with this new bill conflicting with existing lease?

It all will come down to the financials on these deals, and with a larger mortgage, expect less cash flow, so if I were your agent, I'd be focusing on making sure you have an income cushion but giving a broader focus on appreciation.

Stay Renting:Pros:We have a great deal on rent ($3,200 total, $1,600 each), which allows us to save, stay liquid and focus on growing the rental portfolio.We love the apartment.Cons:We’ll likely need to move in a year, and comparable places are around $4,000/month.I’m not thrilled about moving, and it feels like we’re just delaying the inevitable.Not getting any appreciation.I’d love to hear your thoughts.

A lender needs all of this information to even consider the deal. 

By far I've learned the most by jumping in and trying to get started on some deals in the real world.

What made you interested in investing in this type of deal?

Welcome to Texas.Sounds like a great plan.Remember you can 1031 the current investment property into the next deal to save on your capital gains taxes potentially.