They had to call the fire department to the house because his "grandfather" had a medical emergency a couple months ago and passed away.  

They are typically family, friends, neighbors, Doctor, attorney, CPA, other parents from your kids school, etc. etc. etc.My question to you is, why would you want to give up a high % of the profits when you can simply pay 9% or 10% straight interest?

It has close access to highway exits, schools and many doctors .

So far, we already have one handyman referred to us and know of one small, honest general contractor.About the current owner: my agent found out that he is an old doctor living in Florida and just want to get rid of the property.

Linneman, holds both Masters and Doctorate degrees in economics from the University of Chicago.

I think the city wants the street to eventually become all commercial so I'm hoping to get an insurance office or small medical building approval one of these years.

The biggest employer is HEB w/20K employees (groceries...people got to eat) and HEB rules in central TX and keeps getting stronger); USAA is a large nationwide financial services business HQ'd in SA, medical is another area growing.  

The fact that he is a doctor makes it nice and easy to garnish wages in the event they do not honor the lease.

He probably had it a year prior to being diagnosed, but didn't know as the doctors never suspected it.

If so, perhaps sitting on a serviced lot and working on your neighbours may be a better long term strategy.I too want to build - in my case a Passivhaus set of {stacked} townhouses and a 20 - 30 unit Passivhaus apartment complex - but now is not the time here in NB.Is the old doctor's house over on Gray still for sale or the 4-unit on King (close to your work)?