2% rule in Fay went out the window about ~5 years ago unless you buy on Murchison ave, you can probably get a 20K house that rents for $400 there, but I don't recommend this.I was buying properties at 1.4 - 1.6% for a while but the margins are tightening from my experience.

There are 5 different types of areas:A - where people like you and me want to live: best schools, very low crime, very few rentals (luxury apartments, high end homes for rent to executives, etc)B - a step below A; very good schools, low crime, some rentals, this is where the median price homes usually are (this is the BEST place to buy single family homes for long term buy-and-hold); this is also a good place to buy multifamilyC - OK schools, average crime rate, lots of rentals, THIS IS ACTUALLY THE BEST PLACE TO BUY MULTI FAMILY because the cashflow is good but not too hard to manageD - bad schools, high crime rate, lots of rentals with problem properties (boarded up, broken windows, etc).

I did spend considerable money on replacing almost all of the windows and vinyl planking some of the units.

Both Units - New roof, electric panels, windows, lava rock landscaping and small patio in fenced in back yard.

(there's a diy bridge connecting the house to the apartment which will most likely be removed.Within the small neighborhood, only a few streets away have been nearly 20 homes sold in the last 6 months, and only two sold under 200k, most 220+, all of them single story, most 3 bed 2 bath, several are new construction.my short term goal is to own and rent the apartment and live in the main house for the rent to cover expenses, no positive cashflow necessary, but appreciated.the house is in need of extensive repair, it's on block foundation, but not in a flood plain and did not flood in hurricane harvey, (I'm in houston). obvious potentials due to original construction being in 1950 is asbestos, rewiring entire house/upgrade, redoing all plumbing, replacing most windows, hopefully not a complete install, and it has no central hvac.

I don't want to be wasting a relator's time window shopping.Considerations/Criteria:- Budget: Approx. 200k for single family, 300k for multi-family. 350k absolute max.- Class B property.

do you have a tiny window to non renew?

Currently my PM is having the most luck with just putting a sign in the window and posting on Craigslist.

. - Windows( for multi-unit properties if there are a lot of windows that need to be replaced this can costly.) - Overall repairs needed In conclusion, research the area and find a good property manager or inspector and make sure they look more into the things above and anything you know of that is a high-cost repair! 

@Cason Acor Thanks for the thorough response, it is my first industrial deal, this is only because I NEED to invest in Opportunity Zones due to missing my 1031 window.