Overall, the state is quite overpriced, mostly due to the Texas hype.Based on your description, I would guess you are looking at a purchase price of $325K and rental of $2000 or so. 

I normally purchase very cheap homes, remodel, refinance and rent.

Purchase price: $575,000 Cash invested: $140,000 I live in the house that I bought it as a long-term investment.

After sitting on the sidelines trying to get into real estate investing for several years, I have the opportunity to purchase a 1 bed, 1.5 bath home in a desirable part of the California desert.The purchase price is $299,000 with a 7.3% interest rate and 3% down.

Congratulations on your first purchase.

Home is purchased in 2002 for $325,000 and used as a primary residence for the duration of ownership. 

My specialty and focus is on buying sub to and you have to bring ALL your own docs, trusts, POAs, disclosures, how to add proper adendums to the purchase contract etc. 

I was exploring the possibility of purchasing a property out of state (in Texas : ) ) and was wondering: 1. 

I recently purchased a land from the tax deed and when doing my research I didn't find any history of a lend or debt owned.

We have some connections in Little Rock and are considering purchasing, but obviously want to do our homework first.