I feel like I would be more apt to move on it at a higher price if the situation were to make my cost of living a lot cheaper right now but that would not be the case given the piti/utility situation.

(i.e. memphis also has cheaper homes but its mainly renters and population was stagnant/decreasing).

And then, approximately how much cheaper should I be trying to get a house for than what it is estimated to be valued at for the deal to be worth it? 

I think if you could get houses for 20% cheaper the opportunity zone under the new tax code would be a great investment.

The house price is cheaper in little elm than Lewisville but which city is beneficial for investors purposes.

LaPorte County (specifically Michigan City) is significantly cheaper.

You should consider looking at the Hofstra area for student rentals, above my price point but cheaper than Stony Brook.

@Robert HernandezR22 doesnt scare me...usually means I can buy the unit cheaper, and now they have the synthetic freon you can use instead of costly R22.

Umbrella with max liability coverage & it's usually cheaper than running & filing an LLC yr-yr.Once they are paid off move them into the LLC, if you still think its a good idea, or just strip the equity.

At $700 rent you are not losing tenants to cheaper rent; if you are you don't want them anyway.