McKinney is thriving, but so are other parts of North Texas, and a broader perspective could reveal other great opportunities.Here’s what I’ve observed managing a significant number of rentals in the area:Bedrooms and Layouts:3-bed, 2-bath homes consistently attract the largest pool of tenants and have the highest occupancy rates.4-bedroom homes have grown in demand, especially with the rise of remote work, as tenants look for extra space to use as a home office.Square footage is less critical than number of beds and baths.Supply and Demand:McKinney’s growth is driving demand, but the quality of the location matters greatly.

If you provide any kind of substantial services like catering, car service, etc you will change you tax situation and no longer can file under Schedule E.

Screen them as you normally would - does their income substantiate their portion of the rent +/- a little for changes in what the housing authority will pay out?

I'm wondering how anyone does it in this area, or maybe I just have not been looking for long enough.I really would like to purchase in my area as it would be my first rental property, and I am most familiar with the northern VA area If this is not to be, I also am wondering what markets nearby would be better.I’m also in Fairfax County, and you’re absolutely right: Fairfax County and much of Northern VA are tough markets for cash flow, especially starting out without a substantial down payment.

Right now, I’m seeing max LTVs closer to 80% on purchases, though before COVID, we sometimes went up to 85%.Also, keep an eye out for lenders who promise amazing terms but demand large commitment fees upfront.

This influx of workers will naturally drive demand for housing, retail, and other services in the surrounding areas, especially in smaller towns and cities that haven't seen major growth in decades.

Quote from @Jonathan Baptiste: I am doing my first deal that needs substantial renovations.

I would stay away from this, unless you have an empire and can substantially prove it.

Finally, double-check local demand and rent trends in the area to ensure the pro forma income is achievable.I’ve worked on several mobile home park deals as a broker and am currently helping a few clients sell their parks, so I know how important it is to ensure the numbers make sense both now and in the long term.

It is disheartening to witness a mentorship program that boasts substantial financial success, with students allegedly earning substantial monthly incomes, yet fails to ensure that their own employees receive even the minimum wage they are entitled to.