The current in-place average rent for renovated units is $2,550, and the unrenovated is $2,150.

Pretty much last forever and average out to $75 a piece. 

I have looked at over 100+ houses and OPM is for using less of my money right now and keeping that into the stock market which gains a more lucrative return on average.

Then add the average of 10% ($300) for maintenance.

I’ve done some research and have identified a few markets with potential, but I’m still trying to figure out the do’s and don’ts of buying distressed properties and how to maximize my chances of success.For example, what market factors should I be looking at beyond the average sale price?

I'd agree with mortgage news daily - the "average mortgage rate" generally tracks very very closely with the 10-year treasury yield (+ a somewhat steady spread) - google and yahoo finance on that are pretty handy

As Pari said, you can learn notes and earn more than that, or if you want mailbox money and do no work, JV with a note investor and you can get 12%+ and your money is not tied up for years but on average 12-18 months (or less) depending on the deal. 

To make an informed decision, research the mid-term rental landscape in Garland, considering average rental rates, vacancy rates, and competitor offerings.

Take a look at what the average returns appear to be and set a goal for cash on cash at least.  

Another factor that works well with US investors is that the local currently AED (Dihram) is pegged to the USD at 3.67~ AED per 1 USD.For long term rentals, its on average 5-8% after the “Service Charge” reduction.