To  buy this at the right price and get it renovated efficiently and effectively, you will need a team on the ground with whom you can trust.

So I just created my list of run down homes that I plan to send mailers to and have a couple owners who are listed as revocable trusts and revocable living trusts.

It’s just my opinion, but I would encourage you to either start with something close enough to you so you can learn the process hands-on, or like the others said.. get boots on the ground that you trust, or go see Houston for yourself and learn the area you’re investing in.

They have no state income tax and their fees for vehicles as well as auto insurance and health insurance are extremely low.To qualify as a resident of South Dakota, one needs to go to the state, stay in a motel one night and go to the Department of Motor Vehicles the next morning.

You could jump on the speculation bandwagon and hope to take advantage of some home value appreciation but thats always a bit more risky, especially in this extreme city..  

If it is a really good deal, is there anybody you trust to be there that you can communicate with over the phone everyday.

Let the dilettantes go their way looking for the easy, safe, problem-free bucks in real estate, as if there were such things.Build your team as you go, learn to trust their strengths and work around their weaknesses.I really like the idea of doing a videocall with your agent holding a camera (FaceTime) as you walk through a property.

Just a warning though, in my area duplexes are often held extremely long and rarely sold, finding good duplex comps to compare is difficult in some areas.

Do not be too quick to trust.

We are extremely excited to take this next step to financial freedom and can't wait to own property all over DFW!!