The only assumption is so they can add to their rental portfolio because the spread is too thin to make money from a flip. 

Full disclosure though, I was in Houston for 4-5 years to build up a good portfolio of properties and a company before fleeing back to San Diego. 

That is what you need to do to ultimately build a large portfolio!

I started this way & run a $50M portfolio now.

Do you provide move in and move out reports How many pictures do you take of the property prior to tenant moves in and after the tenant moves outDo you get weekly reports when the property is vacant what prospective tenants are saying about your homeDo you provide monthly newsletters to your tenantsDo you hold investor education classes to help me become a better investorDo you have single point portfolio based management services?

Another is Velair property management, smaller and don't know their track record or portfolio.

Ideally, by the time we're in our mid 40's, it would be nice if she could switch to a part time/casual type of work schedule and I could leave my full time job and concentrate on maintaining our real estate portfolio full time, and we could both have more time to spend with our 5 kids and eventual grandchildren.My wife and I talk about saving a lump sum to put down on our first rental, but after spending 15 months saving and paying off debt, I am ready to start investing! 

Something will go wrong and you need to have money on hand to deal with it so you don't derail your investment plans or destroy your investment portfolio.

@Chadd Brandon  For buy and holds, small local banks (portfolio lenders) that can provide both purchase + rehab financing. 

I would add, if you own a primary residence, a portfolio lender can help you with a no income verification loan for the investor property.Best of luckStephanie