There's no one (theoretically) living on the parcel--no improvements that would allow someone to make the parcel their residence.

Here are some examples of those methods below: Rely on the county tax assessor’s allocation: A taxpayer can review their county tax assessor’s property allocation, which usually provides an assessment of land and improvements based on the county’s guidelines.

I agree with @Brandon Rizzo I think the supply will normalize as the migration to Texas has not slowed down and as builders make correction to a more balanced supply and demand (along with interest rate improvement) housing market will be better.

By doing this you'll start to see which strategies might better align with your resources (time, money, energy, connections, etc) and your future goals.

Are there ways to add value through renovations, additions, improved management?

Start with one, see what it really costs you and what you could improve on.

Trying to improve my knowledge in finding a sweet spots for my investment.

Hi, I am looking to buy or build a small home with a business below, in the most cost efficient way.

Able to improve vacancy rates.

Most lenders would like to see at least 90 days and improvements made to property since purchase to use new value.