I am looking at East Dallas. 

East LA doesn't have rent control. 

Turn key companies are in the business of buying distressed properties at a discount and reselling them to (mostly out of state) "investors" ... by the time you get the property, a wholesaler, contractors, real estate agents, the turnkey company, the hard money lender, out of state marketers, and the PM have already gotten or will get paid on the deal ... that is a lot of middle men getting paid, and who do you suppose pays for all those markups?

Realized today that I am smack dab in the middle of what some classify as a "Tired Landlord" aka a person with 3-10 properties (I'm at 6).

You are trying to put yourself in the middle of a deal with a home that in all likelihood needs A LOT of repair.

@Jay Hinrichs - I'm not sure if you'd call it traditional flipping but there are streets near me in East Memphis where older homes are being razed and huge, modern homes taking their place.  

I would highly recommend Frank Boenzi from Keller Williams East - he is an investor and agent who will bust his tail to land the deal!

Louisville or any other midwest city will provide significantly better cash-on-cash returns than most areas on the coasts.Generally speaking, people invest on the coasts more for appreciation and the middle of the country more for cashflow.  

Start from the middle of the room and go out.

Our lenders pull the score from Equifax, TransUnion, AND Experian and then they use the MIDDLE score.