I eventually want to get into building 5-10 houses a year, building myself up to the somewhat more recession proof market (Im thinking $650k+ builds, I also really enjoy lakefront.)

Good afternoon,I’m new to the real estate industry and have been actively conducting market research by driving for dollars in the Austin (ATX), San Antonio (SATX), Houston (HTX), and Dallas-Fort Worth (DFTX) areas.

When we take over a property, and the rents are $400 less than what market is, as in your case, there' usually no way that resident can pay.

The downleg is in the final stages of creating a marketing package from the broker that we're using and should be listed in the next couple weeks.

My wife and I purchased our first rental property here in Maui in June of 2023 to use as an STR as it was a consistent market, numbers worked, and we live 5 minutes away from the property so self-managing made sense! 

for example, who pays closing costs, seller or buyer?

BP Community, Hoping to get some feedback from folks who have used Invelo to find off market deals.

This year, I sold 3 of my rental properties (one has a large capital, one at a loss (because I bought it at the top of the market), and the other one breaks even).

These markets are not bad for landlords - they are landlord dreams.

If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking5.