the Cash on Cash return and the Debt Servicing Ratio are the main things I look at first. 

The main benefit of this is that you'll have a team leader sending you leads and (if they're a good team leader) teaching you how to convert.Lastly... once you're settled in at your brokerage, make sure to tell EVERYONE you know that you are Licensed Realtor!...

@Timothy Neafsey Is this the Livin' On Main Apartments? 

My focus will be mainly on tax liens and tax deeds.

For me, I'm working toward financial independence where my passive income is equal to my living expenses.When you look at your daily choices through the lens of your long term goal, you set yourself up to reach it.

Obviously if your other choice is 2% in a bond it may be a preferable investment if the building has been well maintained - at least IMO. 

I’m mainly going to do flips in Bryan/College Station and the northern parts of Houston.

I was just thinking mainly that I may be able to do my next rental deal quicker if I get a construction loan for a property that I already own.

@Steven Denio Construction fencing may scare off buyers (nobody wants to live next to a construction site) even if you can't reuse the poles it just takes a few cuts with wire cutters to take down the main fence part at which point it can be rolled up and used elsewhere.

I think there are also a lot of newbie landlords out there making bad tenant choices, which is going to bite them before long.Thanks again for the info!