For me, the first home wasn't something I could afford to fix up right away so an updated home was definitely a must have and I got lucky with a pretty great view of the Mountains (except the darn neighbors large tree blocking my favorite peak, pikes peak).

lord... we used to do a bar crawl from UCD, starting at the brick shot house in west sac on industrial, then club raven, and if we were upright, the Zebra.

My wife is looking this up right now..

With that being said, the effects of of the O&G market decline don't usually show up right away; so, I do expect that Houston's economy will dip more in 2016 which could have an impact on our real estate industry this year.

Then see about Lenders, Attorneys, and CPAs (probably in that order) to get the deal set up right.

Don't cut it so close you can't sleep at night.You may be able to get the 3-unit under contract with a contingency of selling your flip, but that will probably make your offer less competitive.Otherwise, I would wait until you at least have your flip under contract (and have a more precise expectation of net proceeds) before going shopping again.The 3-unit property is not a one-in-a-million opportunity that just happened to pop up right now. 

Hey @Wes Blackwell,Have you seen folks trying to use this strategy, this strategy that I'm just kind of making up right here on the spot as a variation of something I've done in the past?"

I picked the building up right ($32,500 at auction) a couple of years ago and took it from a money pit and made it into a money maker (net income $2,300 a month with room to add another $400 +).The city bought the neighboring building for $165,000 and put $79,000 into demolishing it unfortunately the demolition created a lot of potential liability that would be my responsibility.

I'm signing up right now. 

This will make them a lot more flexible in the future.BTW: I grew up right next door in Manchester.