The estimate I have from a cost segregation firm is $316k (w/ study) vs $28k (no study)-Assume we're in the 37% bracket  -Does this mean, I can claim a $117k depreciation deduction for this year? 

With out that, there is no proof that it will perform.Do you have a full estimate and plan for 3 years on the property?

There's a good chance the issue(s) you face has already been discussed and answered.Ask questions in the appropriate forum.

Texas added more new residents than any other state over the past year and now has a population of over 31 million people.According to estimates released Dec. 19 by the U.S.

If we become heavily restricted, what chance does the rest of the DMV have to get their own regulations that make sense?

I then created an excel sheet with those estimates to know (a) what to offer for land to make my numbers and (b) to hold the sub to what they estimated for me.  

And this is your best chance of house hacking while covering most of your living expense or maybe even cashflow if you buy in the right area.Hope this helps!

I think first step is to find legitimate comps that match and support your 130k valuation and dispute the report to give the appraiser a chance to fix the report. 

Quote from @Johnny Lynum: If you had the chance to invest in your first property, would you choose a single-family home or a multifamily property?

An easy flip at 7-10% return might be more lucrative than a larger project that takes longer and more chances for cost over runs.