I think it should be clear by now that I am not really into real estate with all guns blazing. 

I would not suggest going in guns blazing.

Yes this is a business but coming in guns blazing on day 1 saying you are going to raise the rent drive them out will likely not end well in your favor.A final word of caution: please make sure if you go through with buying this you do have cash reserves for unexpected repairs/capex.

On the other hand, for the same house if you scroll down you see the "Zip code stats" describing a blazing hot market going up by 10% or more in the last 12 months.  

I'd recommend to anyone starting out to partner with someone that's blazed the trail first and not worry about taking a little less profit on the first 2-5 deals... smaller profits is way better than the big loses that usually happen on the front end. 

Every one is fine and no one was hurt during the blaze. 

@Gabe SirkinIf the zoning allows for multi unit residential, then blaze forward.  203K would work or for better pricing and less mortgage insurance (by far) go with Fannie's 90% construction/renovation product.Stephanie

I think this year it's rained a total of 15 days out of the year - the majority of the time being a light sprinkle that's then evaporated in minutes given the blazing Central Texas heat.

I am in an expensive market, which is also blazing hot it seems at the moment. 

Lightning in August ignited many of California’s biggest blazes, but scientists say climate change has also contributed to the conflagrations.