When you look at the numbers, take ALL numbers into consideration before you pull the trigger. 

Make friends increase your circle of influence - Hire a private detective - they are good at finding people (give his a piece of the profits)Check the death notices or search government record for certificates of death, check the obituary for next of kin - contact them. 

That being said, the purchase price is below $100 per square foot and I am betting the steady flow of increasing population to come to the Houston area as it has for the past several years.

A 3-5% increase in that price range is around $25-$50 a month give or take.  

There are two to three markets I am interested in that I have some small relationships within that I could utilize, my hometown, my wife's hometown or a place I visit often for work.My questions concern the opportunity cost of learning the ins and outs of 3 different markets when the requirements of truly knowing the market increase the chances of success.Do I select one based on distance, the potential to cash flow or appreciate, or one that I may have more connections in?

I want the tenants to move out solely because the place needs a major renovation and subsequent rental price increase.

Porsche/deck8. fireplaceShould i be putting other items into consideration?

I'm finding the hard part is more finding properties that are in a good location and also don't have restrictions on short term renters (either hoa or local regulations).I've reached out to owners with the same basic offer (increase rent, cover repairs up to a certain amount) and most people are hesitant to even discuss it, so i think it's a sheer numbers game and being ready to buy a property when one shows up that matches my criteria

I am a 25 year old South Denver native and have worked as a carpenter for my fathers residential remodeling company on and off for the last 10 years (throughout High School and College), since graduating college I have become increasingly interested in the business side of residential homes and have therefore been a licensed Realtor for 18 months now.

I just ran into this problem I have a law degree and MBA and carry considerable student loan debt.