You would need to contribute out of pocket each month to keep the investment afloat.

Keep learning, stay consistent, and reach out if you need help running numbers!

But if you're able to figure it out and get it built, you can rent out the units and essentially BRRRR it and pull some/all of your equity out to repay your debts, yourself, and potentially keep the investment cycle going. 

There’s huge retal income potential if you nail that balance between improvements that wow tenants and improvements that merely look fancy but don’t justify higher rents.I’d also keep an eye on how your high end plan fits the local demand.

I’ll keep an eye on the Sherman Dennison area.

This is where keeping a cool head and using good negotiation skills will likely yield the best outcome.Good luck.

I'm trying to start off with something closer to Houston as my first property, but will keep College station in mind for the future. 

I keep hearing that costs of labor and supplies are rising (when aren't they?)

But also lawsuits up the ying-yang that appears to keep loosing.

Keep it up ...