Out of your list, I suggest the Northern and Western cities you listed (Conroe, Montgomery, and Katy).

Absent them, risk is controllable over time.I self manage a SFH in the Bay Area in a very pro-tenant city (some cities are a little less pro-tenant than others).

If not you might be stuck with the work and the commitment to doing it since the city would be the ruling party.

The city required the road to be extended a few feet, along with water and sewer.

Thus, we are looking into the Johnson City-Elizabethton area or the Kingsport-Bristol area.

Quote from @Makani Donaldson: From what I understand, different islands or cities have different rules, and they are getting stricter.

Target ReturnsWhile target returns are crucial, these should be discussed only with investors—not brokers or others helping you find deals.Sample Investment CriteriaHere’s an example of well-defined CCC:Location: Primary and secondary cities in the Southeast with population growth.Type & Class: Class C garden-style or walk-up workforce housing with repositioning opportunities.Age: 1980s construction or newer (case-by-case for older).Price: $5M–$12M, requiring $1.5M–$3M in funds.Size: 100+ units.Cap Rates: Market rates.Roof Type: Pitched roofs preferred.Value-Add: Opportunities for improvements or better management.Why This MattersBy creating crystal clear criteria, you:Avoid wasting time on deals that don’t align with your goals.Build trust with brokers and partners by demonstrating a focused investment strategy.Increase your chances of finding deals that meet your financial and operational objectives.I'll be posting each chapter as I go through them so you can follow along from my notes and we can discuss different strategies.

Since downtown development land goes for $30 million/acre, $100k imposed by the progressive city government for a 40 story building permit is a minor annoyance.

The neighbor was the hottest in the twin cities and this house has 83 businesses cards of realtors who showed the property.

I have a client in Kansas City that looks for very similar deals in his market.