My current buy box is single detached homes with 3 bedrooms, 2+ bathrooms, 2 car garage, and built since year 2000, and managed by professional management. 

It is perfectly fine to have different buy boxes based on different criteria.

Bottom line is that unless you bought 15 years ago, or buy something really niche (think 7-10 bedroom houses with heavy theming) you need to be prepared to lose money down here right now.

As a long-term buy-and-hold investor in the Tulsa, OK market, I can tell you that “tornado country” sounds scarier on paper than it plays out in day-to-day operations.

Quote from @Stephen Macknik: I'm interested big buying a partially vacant stabilized 6-unit building in Manhattan.

Looking forward to hearing how others are approaching note buying in 2025.Spent the better part of the last 4 months trying to get a handle on the risk adjusted return for our arena; which is the commercial mortgage $1 million - $5 million loan where the borrower doesn’t qualify for institutional financing.  

With Food Stamps you could not buy junk food and beer.Before that, poor people could visit a state run facility where they could pick up cheese,  milk, eggs, flour, bread, meat, peanut butter, potatoes, fruit, produce etc that the government bought as excess products.

I buy in desirable areas where there is no winter.

Since you’re in Texas buy an Offlist property of 1 to 2 acres in the country side.  

The excess, if any, is generally held for the borrower to claim.So, in most states, when a property goes through the auction, the subordinate liens are wiped out. (22nd mortgages, HELOCS, HOA liens)However, when no auction is held, (you buy the property before the auction occurs) the liens survive and are still owed.