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 think it would also give me a leg up on the competition to keep this house rented consistently. 

With family who can manage the properties, lower competition, and higher rent/dollar invested it seemed like an obvious decision.

Competitive rent coupled with a young family should do just fine.