With the average rent being listed as $888 for the city of Lubbock, that leads me to believe that the "decrease" on paper is due to the large influx of student properties having rent listed by the bed as opposed to by the unit which is very common with the large resort-style properties. 

Purchase price: $522,250 Cash invested: $233,200 14 boutique style hotel rooms, bar and restaurant, Live Performance Venue, Pool and Gift shop.

IE you buy the area 1st, the street 2nd, the house style 3rd, the condition of THIS house 4th. 

Assuming it trends downward a little would you do this deal knowing rehab will take 4 months and by the time you get approved for the variance and meet with the board it could be another 3 months meaning total time spent on this project could be 7 to 8 months before you could resell it for profit?

You know the sales trends and which areas inside the market are better than others.

Lots of available styles now. 

You need to know the two different types of turnkeys and which one best suits your style of investing.

For instance what websites have you found that gives easy to read and accurate information on job and population growth as well as Crime rates and housing trends.

:D I definitely see a trend with new investors.

We buy/sell 20+ per month at this point and at least 3-5 of those every month are working JV style with someone else who brings us a deal or does the rehab for equity.