Rehabs are the more favored option but they are harder to find, mainly because of the competition for them.

Houses for sale give you an idea what the competition will be.

People pay all cash here and the competition is intense.

At a purchase price of $343k, it's a 10-cap.At a purchase price of $500k, it's a 7-cap (6.8%).At a purchase price of $750k, it's a 5-cap (4.5%).At a purchase price of an even million, it's a 3-cap (3.4%)But without knowing what a competitive cap rate is for your market and the specific neighborhood, I can't tell you if any of these cap rates are good or bad. 

There is less competition there and you do not need any  prior experience."

I'm hoping as a newbie I can find my first great deal and get my foot in the door with some tough competition for deals out there.  

MI took a look at the competition in the area, and this is one of 2 houses that has a washer and dryer in each unit and a brand new garage in back.

Too much competition in the area from new product, owner is a tired landlord who has mismanaged, has the area changed to more commercial or mainly single family houses in nature?

Now, since market is more competitive, I am also want to take a look at Commercial and Multi-family property mainly in San Antonio.I am really appreciate if any San Antonio agent who has such expertise could connect me and have a discussion.Again, thank you all who contribute to the community.Niklas

I 'm a student of money & our global financial system.