Still, if the cash flow is very little, or even a bit negative, but you can hold on to the property for 4 or 5 years, you will gain an average 20% net worth on said property that belongs to you and only you.There is a saying I love in the stock market, but I feel it also applies to the real estate market:"Time in the market always beats timing the market"This is to say that if you hesitate and don't pull the trigger for fear of having "missed the boat" you could be missing the boat that is passing in front of you.So, to summarize, I would look at other markets, but I implore you to look for a good realtor who can provide more than just the properties.

My primary interest is buy and hold property accumulation.

I've read up on Landlord/Tenant  law on Texas State Law library government website but seems those laws are geared towards landlords with full unit rentals.

Are you planning to do long-term by and hold, or another type of investing?

@Marshall Secord, Most folks feel comfortable with any holds more than a year. 

Good day Craig just a friendly share from the NC Realtor.org website...hope it helps!

Normally calculating annualized returns is very simple: sum all of the profits and divide by principal and by holding period.

Never hold a house that has no payment attached to it.

I’ll reach out via your website 

The neighborhood is quiet and charming and I assume the investor wanting to buy the vacant lot will most likely either hold for a while or build on it soon.