Regardless, either is affordable considering you can make $600-$2000 on your very 1st $100,000 transaction.  

It will make my trips back to the Midwest dual-purpose.In terms of criteria, I am looking for a small B house <$50,000 that rents for ~$500.T, I would normally tell you not to choose a market just because you have family there but in this case, that's an added bonus.

That's the affordability.

Since the last oil crisis, Houston has done an outstanding job of diversifying...With high-tech, healthcare, and alternative energies booming, petroleum just doesn't have the effect on us that it did in the past...it's now a smaller piece of the pie that is Houston.Many locals remember the hard times in the '80s, and are fearful that they will return, but when you look at all that the area has to offer (booming industries, affordable housing, great schools, investment opportunities, friendly people, decent winters, etc.) you realize that Houston still has a lot going for it.And even if things were to cool off a bit, that's beneficial to investors, as it means less home ownership and more renters!

T

Less disposable income means that they cannot afford to pay the level of rent they did in the past.

. (~4-6 bedrooms here).B-level: Similar criteria to A-level but without the custom built homes, 2-income families can afford to live here and raise a family, backyards for the kids, 1500-2000 sq ft houses (~3 bed/2-bath homes).C-level: Majority of houses under 100K, visual repairs needed in this neighborhood, 1200 sq ft average, houses close together, some properties worn down, grass not cut, porch awnings sagging, concrete stairs crumbling a bit.D-level: Struggling neighborhoods, garbage on the streets, bars on the windows, higher crime, crowded areas, downtown city area, wouldn't want to walk around here at night.F-level: War-zone, "get me outta here" property, makes you nervous to enter the neighborhood even in daylight.That's my basic approach when I think about properties and what areas make the most sense to invest in.

I don't plan to stay up here forever but as I move around I'll never find an affordable place to work or store numerous vehicles.  

If you Google the articles on the Japanese buying the refinery, you will see there are much more incentives and benefits being afforded to St Croix than just reopening the refinery.

If your looking to start with something P/T you might want to think about teaming up with a local wholesaler and start "bird-dogging" for them so that you can learn more about the industry.