Houston is a GREAT area because of the tremendous growth that the region is experiencing. 

The main thing you look for (there are many) is jobs - both job growth and job diversity.Re: your goal, I had a similar goal when I started out.

Currently reading: "The Power of Focus: How to hit your business, personal and financial targets with confidence and certainty" by Jack Canfield, Mark Victor Hansen and Les Hewitt"How I turned $1,000 into $5 million in Real Estate" by William Nickerson "Burn the Fat, Feed the Muscle" by Tom Venuto"The Power of Self-Confidence: Become unstoppable, irresistible, and unafraid in every area of your life" by Brian TracyI'm also in the middle of trying to rent 2 units in my 3-family, so I've been flipping through "Landlording" by Leigh Robinson and "Landlording on Autopilot" by Mike Butler for advice on screening tenants and lease agreements.

And did you get into those areas 8 years ago, and were able to ride a growth wave? 

What I'm trying to figure out, is if I do a JV with a handful of friends and family, I want us to get the most bang for our buck in terms of unit size (taking into account market factors like job growth, population growth etc.) but you're saying there isn't a very systematic way to figure that out? 

It's all about market growth and where the market is in their expansion cycle.

@Dave HurtHi Dave Nice to see u have risen from ur submarine lol....good on you, I think taking this next step is vital for your growth as you are communicating with like minded people & it consolidates you in many areas!

Utilizing the upcoming world games as a predictive expectations of the local economy is a great way to look at the potential growth of the investment.

Provide protection of principal at a minimum and growth of principal at a maximum;3.

Investing in Indiana for instance has some benefits for sure but the potential growth there is far less than the upside of a Chicago property in 10 years.