Just curious on the local metrics of posters on here. 

Go where the population is growing 5-10% per year (even though it is a small denominator) over chasing year 1 cash flow in a stagnant/declining market.

Year 0: ($2,000 - $1,700) x (1 + 2%)^0 / (1 + 5%)^0 ≈ $300 in today’s buying power.Year 5: ($2,000 - $1,700) x (1 + 2%)^5 / (1 + 5%)^5 ≈ $260 in today’s buying power.Year 10: ($2,000 - $1,700) x (1 + 2%)^10 / (1 + 5%)^10 ≈ $225 in today’s buying power.Year 15: ($2,000 - $1,700) x (1 + 2%)^15 / (1 + 5%)^15 ≈ $194 in today’s buying power.So, if you purchase property in a city where rent increases at a slower pace than inflation, the amount of goods and services you can buy will decrease over time due to inflation.Here is what I recommend:Purchase in a city that possesses the following characteristics.Significant and sustained population growth.Rapid and sustained appreciationBalance negative cash flow, interest rate buydown, and increased down payment to create an acceptable cash flow situation today.Refinance when rates fall to increase cash flow.

Start by networking with local investors through Augusta REI meetups, BiggerPockets forums, and Facebook groups.

Should I work with a local Architect to design from scratch?

Connecting with local investors and agents is a smart move.

If you're intending to invest in a particular niche as a real estate investor, it's best to study that niche including the local supply and demand in your area before taking action. 

.: Wild idea based on a property in my local market.

@Cameron Husom I have a list of meets up that I attend along with a list of local wholesalers in the DFW area.

Quote from @Nate Williams: I found the worst house on the best block in a local historic neighborhood.