I am looking for lower end rental property outside of Houston Texas to get my feet wet in the game since it is too expensive to start in California.

You have a cash flow over $200/month which is a pretty good target for properties in Grand Rapids, and you have instant equity of around 25% (if this house is worth a little over $100k).I might advise that after a year or so, once you've "stabilized" the asset, you could refinance and pull out your 20% down payment, which would make your overall ROI sky rocket!

Does anyone know any developers in Houston?

HELOC's max rate in CA from my experience tends to be 18% (prime + margin) so if you purchased that non owner occupied home with the HELOC and prime happened to sky rocket your payment may go up substantially as well.

Do any of y'all in the Houston area rent to tenants with bad credit?

Dallas, Houston, or SA work a lot better and are still growing quick.

I know the Houston market is hot right now.

Hi (name)My name is Derek LeBlanc and i am writing to you because i am interested in buying your house at 88 jingo rd in houston texas.Please give me a call 555-555-5555"should i leave my email too?

I was interested in the Memphis, TN ,area in Texas probably more the Houston area.

@Denise Mayo-Walley the problem with the West Houston area, is that most properties are fairly new (20-25 years old), generally in good livable condition and hence selling at market price.