Ive taken over loans for mainland lenders who were 20 days into the contract before realizing they could not lend in the Lava Zone the house was located in.

Sub to us a bigger deal than most people realize.

I realize no one has a crystal ball, but I see no scenario where the housing shortage did not get worst in coastal CA by the elimination of 1000s of homes.As stated I agree with your sentiment. 

It is amazing how many times I have seen the cash flow represented as rent - PITI and to compound the issue they did not realize the ADU would increase their property tax.   

For example we had a group coming to stay for a wedding but after booking realized that it was almost 40 miles downlake from town.

You took criticism like someone who is looking to get better, and realize it's not personal.

Ultimately, I wound up doing a 92-unit deal my first time around and realized that part of the reason I was struggling to win deals was simply because I lacked the credibility to be do so. 

Success:  Signing a deal with First WatchFailure: Bought a retail condo, not realizing the low ceilings were such a deal breaker for a lot of tenants.Pain: A lot of turnover this year, especially in light industrialAha moment:  Mortgage note investing needs to be a larger part of my portfolio2025 Goals: Less Investing and more pickleball!

It sounds to me like your Austin home is a "Sell" candidate - while it could appreciate over the long-term, you might be sinking cash into it for many more years in order to realize that appreciation.

By this time, I realized Chris was wholesaling the house to me (unlike the other houses on the tour) and charging me to manage the project.