I've been very fortunate enough to be able to buy a house as a primary residence every time I move to a new duty location...except for my last duty station.

@Alfred Litton We are thinking about the locations you listed because we love the 'burbs north of Dallas.

Doing a high-quality maintenance job by myself for a fraction of what I know I would have to pay a local tradesman (whom I am also sure would do an inferior job, sometimes an unsound job, as a matter of course to maximize his profit and minimize his time expenditure) also gives me immense satisfaction.Finally, I live in a city where outdated yet sound properties in passable locations can be had for very little money, fixed up for minimal cash outlay (as long as you do it yourself), and rented for competitive rates. 

Profit on a low risk property, 8-12% on a medium risk, and 20% on high risk locations.  

My dad has around 33 units in a certain location here where we live in Ky.

Of course you also need the buyer to see the value as well, but the appraiser will most likely be the constraint more often than the buyer.

  - reaching out to a local real estate agent could also help you gauge the market - they often get requests for short term rental location assistance for folks moving to the area or between homes

Patrick, When we can afford to buy a house regardless of types (condo, townhouse, etc), try to buy one in a good location any time because we need a place to call home.

School bulletin boards are good, as well as other places students go often- laundromats, restaurants, grocery stores, hang out locations. 

The place was more run down than anything I have ever worked on but the location makes it all work out.