When I left Houston a year ago, we were buying roughly 40 homes per month in that market. Many of these SFH properties were buy and hold. I can assure you, there are areas where you can buy low, add value, and rent out close to the 1% rule or higher, AND get a 10% cash on cash return.
Look into areas like Katy, TX. It's a great little suburb just west of Houston. We were buying homes there close to 100k, they needed 20-30k, were worth close to 150k, and rented for 1500 p/month or more all day long. Very desirable area.
Also look into Sugar Land, Missouri City, and even as far down as Pearland, Friendswood, etc.
Very possible. But you need to be looking off market, not on the MLS. I picked up a house in Third Ward for $17,500 with inherited tenants that didn't want to leave and have been collecting $750 a month rent for the past 3 years and I haven't spent a dime on repairs as they said the tenant is a handyman and had been doing his own repairs, and when I go sell I can probably sell for $85k "as is" due to land value.
Have a condo Spring i will probably sell in a few months. Picked it up for $30k, spent $3k for new paint and carpet and a new stove and Rents for $900, HOA is $130, and i can throw it on the MLS for $67k and it'll be pending in a week.
I'm super new but how do you even begin to find properties like this?