I agree with you in that the main benefit would be the costs associated with HML.

Here's what I know:The city of Corpus Christi has a 3-yr apprciation rate of 5.9%The city of Corpus Christi has a 1-yr apprciation rate of 6.7%Zillow predicts that the neighborhood will appreciate at 7.4% in the next year.The house is on an island, so expansion is limited but has not yet capped as there are still vacant lots scattered in this area.This address is in the best school district of the metro areaThe city experienced 10% net population growth 2000-2010The city's two main college campuses had a combined enrollment of over 22000 students in 2011.The city's top ten employers are in the sectors of military, education, health care, contruction, government, and grocery (local grocery chain headquartered there)The house is a 3 bed 2 bath, which is on the small side of avg for this area.What more what YOU need to know before deciding to invest in this area?

That is one of the main things they'll base your financing on in addition to your credit score.Keep us updated on how things go!

mainly due to property values - there's tons of shorts on the market currently and a whole new wave of REOs waiting to hit.

Your main advantage right now is that you have CASH -you can walk into *VERY* nice deals and enjoy good rent profits without trying to beat out a mortgage or risk crazy rehabs.

The main issue is this would be my first transaction.

My main goal is to succeed at my niche and keep perfecting my strategy to make the process less riskier and potentially make smart decisions.

Thanks everyone for the great advice.Michael Siekerka, I'm mainly looking for SFR around Austin (as far as San Marcos) with an ARV of 100-140k.

The main one I wanted in CA was locked up for some time.

I'd like to help out friends and family and pick up a couple outside listings, nothing crazy.I live in Maine and I'm being told that not many agencies will want a part time agent.