There are a lot of areas close to DFW that have less competition, somewhat lower taxes and a need for rentals.

Competition is high for good investment properties.  

The chance of getting adversely selected against because your competition knows more than you do about the location is very high.For example when I started out we invested in a small town in northern NH called Littleton.

For this reason, you need to look at your competition during that week that you are marketing the property.I only use a few filters.

Note: this math changes if you can find a 30 yr with a more competitive rate.

The competition isn't coming back which is a good thing in my opinion. 3 - Multi-family is the best option for cash flow.

Lehigh Valley is very very competitive right now and without the right help, you are right, it is tough to find opportunities and just as tough to get your offer accepted.  

@Mike SchorahAs a person that is currently heavy into trying to find a property that fits the Brrrr standard in Ohio I am having a lot of trouble finding one, but I do come across a lot and I mean a lot of turnkey properties.

I definitely want to scoop up as many doors as fast as possible with a heavy focus on scalability.

Following that, you can begin researching your competition in the market for rates and occupancy to get an idea on how other vacation rentals are doing in that market (although this can depend on how well managed the property is).