Quote from @Daniel Perez: @Tsipora SmithThank you for the advice I am in HoustonVery cool Daniel, I'm in Dallas county.

I see you're in the Dallas area, so am I.

@Mike Miller if you are interested in the Dallas market I have a firm who allows 1031 Exchanges into their investment. $1mm is typically the minimum you would need to be exchanging. 

@Andrew FreedThe whole seller is based in Dallas and I am in Houston.

God bless you first of all Second, congratulations on your journey, I'm also just starting out and me and my wife have cone extremely conservative on saving because the Dallas market is unreal right now, homes selling for almost double the asking price it's really scary, but motivating too.

Wondering if anyone has used a down payment assistance program here in Dallas tx to get into their first home, I plan to lease it after mt first year and jump to the second one.

On the negative side, you have needed cap-x projects that, when added to the price of the deal, brings the cap rate down after purchase.Cap rates in Texas range -- based on market and future income potential -- from around 5% on the low side (in a market like Dallas and Austin) to around 12% for a tiny park in a lesser market.

I did a deal with similar numbers in north Dallas last year for 270k into a house worth 750k and got stellar tenants paying 3900/mo rent (900/mo cash flow) which was way above comps but renovated nicely.https://www.biggerpockets.com/...I do have one question: How will that 1300k mo/ cash flow change once the IO period is over after 5 years?

I am a new local REI in Dallas, Tx and I've just come to discover the BP community! 

So I am looking into investing in a multi-family property in Texas and I am looking at both the Dallas metro area and Houston markets.