Rent prices are going down due to the fall in oil prices.

Example-  I am in the oilfield, when oil went down, no work could be found. 

Large oil companies and a lot of medical growth are supporting great rental opportunities up here. 

Anadarko Moving to MidlandMIDLAND (Realty News Report) – Houston-based Anadarko Petroleum Corp. will build its regional headquarters in the 38-acre Westridge Commons mixed-use development.The company will be the first...

Yes it is actually in west Texas oil country where rent prices are about 800 for a 1 bedroom and can go up in to the 1000 during peak items. 

Yes there is a demand for short term rentals, and Airbnb type property especially with oil coming back some.

But now what I already have another rental in Kansas that makes around 300 a month but the market has slowed down a lot because of oil prices.

Some things Houston offers that are so hard to find in any other markets:Critical mass (4 th largest city and still growing fast)Low cost of entry and housing cost 30% below other large cities  (buy a $150K house that rents for $1,500/mnth)Diverse and resilient economy and population** passed NYC for most diverse city int he nation last year, Lost >80,000 oil and gas jobs in last 2 years and still put on more jobs than we lost (highest employment rate in city's history today)   Still great TK opportunity here, I work with them everyday ;-)Houston (and TX) are creating jobs as fast or faster than any other area, this is drawing people to the area, they need housing, there is a shortage of available, affordable,  quality housing.

I work in the oil and gas business, and have seen the impact to individuals over the last few years.  

I would say as far as any other specifics, I want to get multifamily units 6 units and above and start doing single family homes for flipping but I have never dealt with the oil heating units that they have out there and that scares me because I do not want find out how much that cost to fix them and have that put me in a bad situation.