I find McAllen attractive because I just like areas with warmer climate, are with new developments streets and new homes (kinda reminds me of parts of CA and Nevada in the earlier days because it got too expensive), large population growth in the foreseeable future, city in a business friendly state in general, surprisingly good school ratings (not sure how accurate this info is though), and not widely known yet compared to other cities.Being from out of state, which area in this city has the highest potential for rental appreciation?

But this is a great opportunity as you can borrow from private lenders, upgrade the property to attract new tenants and 6 to 12 months later, refinance through the bank.

Yes the long term equity building is definitely very attractive in a market like Denver.

Since its growing at a decent pace,  the option of just buying and forgetting it seems very attractive.   

I have family in that area and it's not a highly desirable area to rent most people in that area have been there most their lives and rarely attract folks who have no ties to the area.

An investor friendly agent knows what kinds of properties are attractive to investors. 

However, years of paying PMI make this option somewhat less attractive. 

Knowing all of this information will just attract more investors to you if that’s what you’re going for.  

I think a 6-10% cash on cash and 14+IRR is attractive to most investors on multifamily or commercial.

Selling & reinvesting in the next flip is just so attractive right now..You could always refi into a fixed rate product if it exists, I've heard of them in commercial in the past years but not sure how available they are now.