Now you could earn those types of returns possibly with a) development deal or b)they complex or property has massive vacancy 35% percent or more.

All around there near Georgetown is massive builds going on.

@Arian Moreno SXSW is a massive boon to Austin and most AirBnB properties can see 400+% increases in rent amounts during the convention.

I would not advocate holding on to massive amounts of cash waiting for a down turn. 

As a local Realtor, I am seeing these massive bidding wars again.

If you offer 1% of rents on a property in need of major rehab you are likely to massively overpay.  

There is a nice mix between established areas and areas near them that haven't fully gentrified yet, and could see massive appreciation in the next 5-10 years. 

I live in North Texas and recently found out about a massive lake being built.

There is a massive difference between changing zoning code because drunk people are living in an existing home that is being used as a makeshift rehab facility, versus constructing additional housing and demanding that anyone with a disability be allowed to move in.  

All it would take is 1 out of 100 to be a problem and you have a massive issue to deal with.