But you note that Blackstone is a major investor in Austin, so the contrarian point is to NOT invest in Austin.I have no skin in the game either way.  

NO skin in the game for the sponsor?

We were just at the game on Saturday, it's a great experience. 

Networking is the name of the game, so definitely attend as many local meetups as you can. 

Congratulations, your ahead of the game already. 

(biggerpockets.com)Real Estate Professional Status (REPS)Qualifying for real estate professional status can be a game changing tax strategy resulting in significant tax savings especially when utilized with cost segregation studies and accelerated depreciation.

I am new to the game, but do homebuilders consider buying distressed properties, tearing down and rebuilding?

What's your strategy when you run into guests who are trying to game the system? 

A few people had rejections late in the game after the initial submission looked good.

Our Lake House is close to Clemson and we have all the home game weekends sold out at our Lake House for top dollar, same as every year.