@J Scott   So how do you explain that the market is ONLY willing to pay 50 times the rent for these great homes in great school districts? 

I'm looking to make my first purchase now that I'm working full time after completing school.

I plan on serving in the Navy as an officer after I graduate for a few years, but I'd like to invest in real estate on the side.

I am 16 years old and currently in high school.

I see good school districts as a strong marketing point. 

That being said I have a full time job and have a wife that is looking forward to painting and picking out fixtures and such when the kids go back to school in the next couple weeks.I had a GC give me an estimate on a potential property and the price came out to around $30k that includes roof, entire HVAC, bathroom, kitchen, flooring, drywall and paint.

State government, which will never go away; hospital hub; education hub, with the state university schools there; and the new nano tech hub nearby.  

If you are not aimed at families either school kids you are much better off.

I have some money to invest but I don't qualify for a loan due to a spotty work record because I went back to school.  

With A&M and Blinn here, we always have a huge demand for rentals during the "regular" school year.