Taking the US market as a whole is Macro Economics and that really only has relevance with politicians, school and discussion like this one.Coming from the Orange County area of California we saw a huge appreciation form September 2012 to September 2013.

North Dallas is generally a much nicer area,,but in those areas you won't find $100k houses.I have never looked at properties in Grand Prairie, but the areas I am familiar with are good blue collar areas that may be good for rentals.The difference of being two streets over and being in a different school district, or even a different school within a district, can make a large difference in how easy they are to rent and how easy to sell.In areas like these the difference between knowing the area and not knowing the area can be the difference between a 'great deal' and a 'sucker deal'.

The people who are making money at the beach have owned their properties for decades, own the property free and clear or were given the property without debt.The mid-Atlantic season is so short 12 weeks from Memorial to Labor Day, and even then the last few weeks trail off due to schools starting before Labor Day.

All but 1 unit occupiedlist : 399kGRI : 77kVacancy : 10% =8kmanagement : 10%= approx 8kreserves 10% = 8ktaxes = 8kinsurance = 4kloan terms: 20 year @5% with 25% down = approx 23kIt was built in 1904. the area is low crime, right next to an elemetary school, and the area doesnt have other buildings like these.

Other advantages is the bank will schedule the BPO through you, so you can do the walk through with the agent doing the BPO and this can be very helpful because you can influence the pricing opinion of this agent by pointing out anything helpful that might effect pricing of a home as in repairs, crime stats, school districting, whatever it maybe that would effect that opinion downward.

After that, you can turn it into a rental no problem.Cypress is a great area with a wonderful school district.

Is it close to their areas of work, school, shopping?

It's very close to elementary, middle, and high schools. questions: Is the Monthly Cash Flow normally expected to be around $100-300 or is that the lower end?

My plan as of right now is to try and co-sign on a property with my parents to learn a bit while saving money and finishing school.

Done carpentry beyond just DIY since High School and College summer jobs and considering if getting my GC would help with rehab and build still knowing all specialized subs would be required.3rd and final wrinkle is if its worth getting a RE license for the longer term to eliminate that 3% from Buy and Sell side of numbers.