Savannah is a really neat place to live, but not a great place for resale at the current time.. Be very very careful with appraisal numbers, tax numbers, etc in this area, they can be very misleading. Your HOA dues are high and HOA requirements fairly strict in Providence and Savannah. Again there are any real demand generators in this area as well. Expand your search to perhaps the older part of Frisco, Plano, or Denton where there are some demand generators for renters or be prepared with a LOT of cash to ride out your vacancies.

Although it sounds good on paper. A few other things to consider. The HOA is around $700 in Savannah. Did you take that into consideration? There are almost 20 foreclosure homes for sale in the community. Also lots of homes are for rent.

Why 2 years? Are you planning to sell it then? If the location of an investment property doesn't matter to you, I would look for an area that has something very desirable about it such as the school district where peeps pay top dollar for a rental to have their kids in that schoo, major employers close by etc...

I don't want to burst your bubble...Just want to give you another view...

I think that sounds like a good investment If the appraised value is really $135,000 not the taxable amount. Also I guess you have an idea of what the homes are renting for. Getting a cash flow of $250
a month doesn't sound bad either. Good Luck

Sounds like a good investment if you can get it to cashflow