Here is a good place to start:
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In the last 5-7 years, buying inside LBJ has brought big gains in appreciation. For a rental property, though it starts getting tough to make it work if the home is too expensive - so there is a bit of a quandary there. I have 13 rentals and I bought them starting in 1983. I happened to buy in an area I know like the back of my hand - subsequently the area has gotten red hot as I hoped.
When people ask me where to buy rentals these days I am a bit stumped. I hold out hope for things between Casa Linda and Casa View on the east side of White Rock - but I am not sure I would put my money on it...
Another area of risk with great upside potential is Mount Auburn. It has great schools and is next to a very prestigious area, three golf courses and a new hike and bike trail. But I'm not sure I would be first in...