Purchase 1st Home in DFW to Rent in 3 years
I'll be moving to the DFW area within the next couple months and I'm looking to purchase my first home. Preferably we would love to purchase something in Frisco, Mckinney or North Dallas. This will be our primary residence for the next 2 or 3 years, and then we'll need to relocate for 2 years as I pursue my MBA. In the meanwhile, I'm planning to rent the house out. Once we come back, we can either continue renting it out or move back into the house.
So my overall holding period would be anywhere from 7 to 25 years. While I understand your primary house should not really be seen as an investment, I was hoping someone would have advice regarding this situation. Since we are currently seeing an interesting economic scenario with peak prices and extremely low rates, I want to make sure we make a sound investment.
So what are the main things I should be looking for in a property in this case? Also what area of DFW would you recommend? Any advice in this case will be greatly appreciated.
Thanks a lot!