investors can figure on 10 to 12% return on PMLs   generally they are short term 6 months to 18 months.. in my 40 plus years at PML I find most investors started as landlords then tire of it and start to diversify.

@Diana Teng there are a LOT of potential pitfalls:(So, it's vitaly important to not just find someone that you think you can trust because they tell you what you want to hear, but you find someone that their processes seem a good fit for what you want.EXAMPLE: we do BRRR Turnkeys for clients and take numerous vides we share with them - initial, worst state of any demo, when HVAC, plumbing, electrical update BEFORE walled in, before any major payouts and of course a final walk-thru video.One thing that's accurate from all the HGTV renovation/flip shows is that you should expect and plan for surprises!

I have looked into Indianapolis as a possible out of state market given the strong market conditions and growth that the city is expected to see over the next 20-30 years.

In short, the market defines a bedroom as well as other considerations listed above.As a practical matter a bedroom should probably have a closet since most buyers expect one, but techni- cally the International Residential Code does NOT mandate a bedroom to have a closet.

@Anthony ChanIt seems that you're missing the concept of depreciation recapture and expecting to get some refund from your previously overlooked mistakes.

I have been to the DFW area a few times but not specifically to these northern suburbs, but I know that DFW is one of the fastest growing metro areas in the country with a robust economy, and I expect it to keep growing.

This seems to be breaking down new construction and is a national average so kind of hard to read into this what it means in general but I would not expect a 665k new construction house to be my target for a rental property. 

Figure out how you want to handle you investing and what role real estate plays in that. 

I figure nothing in life is that easy.

Sometimes the closing costs from the auction are HIGHER than expected.