These markets often have strong population and job growth and strong rental demand.But the reality is that even in more affordable markets like Columbus, you'll need about $50k-60k household income just to qualify for a conventional investment property loan (this assumes good credit and reasonable debt).

Places like Texas where you’re at will likely continue to face significant insurance increases given more weather related events which makes it challenging To pencil, but if you have good population growth, things should even out.

When leveraging money, I think it makes more sense to do it in a market that’s showing signs of growth.

Long term, the Austin market will do just fine with strong population and job growth.

I can make them grow faster by thinning even though they have lost some of their growth.  

I consider inventory rates, price trends, unemployment data, population growth, job growth all to be relevant to where a market is at and where a market is heading.

Do you believe in it’s mid to long term growth potential?

They’ve been solid investments, with rising rents and property appreciation, but over the last 2 years, skyrocketing HOA fees and stagnant value growth have reduced cash flow.

The fact of the matter, as @Jay Hinrichs said, is that it *is* an either or proposition at least in the season of growth.

And equity growth has been great since then.