You've got your whole life ahead of you.STEP 1: Increase your income as much as possibleSTEP 2: Decrease your expenses as much as possibleSTEP 3: Save as much money as possibleSTEP 4: Get educated on the basics of real estate investing.

JOHN, I would love to see your sources on those market decreases in Canada and China.

In my estimation, that decreases the value of a property substantially - at least 20%.

@Ben MiculobI think it is normally easier to look at how much taxes you will pay when you think about it on an annual basis instead of a monthly basis.If your monthly income is $1,200, the annual rent you will collect is $14,400(excluding vacancies).You can decrease that amount by expenses such as home owners insurance, real estate taxes, mortgage interest, repairs, depreciation etc.The great thing about real estate is that we normally show cash-flow but a tax loss thanks to depreciation.

I would like to try and invest in Killeen which has a softer market; however, the tax assessor's record shows that a lot of properties are decreasing in value. 

Can you share details on the 20k decrease? 

Don't use cheap faucets or door handlesSemi-gloss or satin paintsAvoid wood products on exterior (paver stones, trex decks), but if you don't, then use Grout and tile is caulked/sealed1 piece tub surrounds reduce maintenancecounter surfaces are solid and unbroken anti-freeze spigotslow maintenance landscapingInstall low flow water fixtures (toilets, faucets, cap off external stain wooden floors dark instead of covering with carpetsound-proof between units in MFUs in decrease turnover (possibly with dark carpets)quality deadbolt with key, quality handle without (prevents lockouts and makes lock changes easy)remove everything that can be clogged, hung on, broken, or injure a tenant (window blinds, ceiling fans, light fixtures with key chains, wall sconces, towel racks, glass doors, dishwashers, garbage disposals, gas stoves)

In my area, I've never seen rent decreases.

A number of years ago in the southern part of the state a large firm was dropping values to accomodate the decrease in values due to the recession.

What do you think will happen to the city str rental rates and hotel rates when the inventory/supply decreases?