If I am to understand your recommendations correctly, are you saying that making 10% improvements only matters if I intend to flip the property?

So if I understand this correctly, it’s possible a lender may not give a loan if the property is a “fixer upper”, but a way around this is to use a 203k streamline and make improvements to the property?

I want to rent it out to gain experience as a landlord but I don’t want to rent it for too long in fear of a market corrections/downfall.

I’ve learned recently what the BRRRR method is and am interested but I’m not sure if it’s where I should start.

Would I be correct in assuming I could knock the 50% down to say, 20%, to net a positive cash flow of $600/month?

I guess the correct question would be at what age of the house you sell it so it does not become a liabilty? 

I've had to explain to my agent how to valuate a 5+ unit because he kept sending me comps using the SFR method even when I was asking him for cap rates for commercial multi.

So any good methods anyone?

If it meets the criteria for a good investment at 310K, you are accounting for all expenses correctly, and the property is truly turnkey with no major capex in the foreseeable future then by all means go for it.  

Houston will correct eventually but it probably won't crash.