I have learned that in today's world of information you do not need to limit your investment to just markets you live in or normally travel to. 

Conventional owner-occupied mortgage rates are above 7% today (source: Mortgage News Daily - Mortgage And Real Estate News).

I made a reservation for 2 PM today for you to call me, but never got a call.  

.⚠️ Market Changes: A hot market today might cool down before you sell, which reduces the profit.⚠️ Financing Challenges: Hard money loans carry high interest rates that nibble into the bottom line.Unrealistic timelines: If you think you're going to be in and out in 60 days, you're sadly mistaken-most flips take longer than expected.Real Talk: Is Fix and Flip Still Worth It?

However, if the FHA interest rate is lower, I would still go that route and if rates drop refinance  however keep in mind FHA has PMI for life  Here you go FHA has the self sustaining requirement that requires the three non owner occupied  units to cover the entire PITI which with 3.5% or 5% down is virtually impossible with today's interest rates and price level.

Good morning,Bigger Pockets Forums, Today I’m doing the inspection of what I hope becomes my first real estate investment.I spent the last 2 months reading, listening to podcasts, talking to other investors, combing through listings, and visiting properties in Baltimore near where I live.  

Odds are with 8 building on 1/4 acre, you could never develop that densely today in Wimberley.   

Realize that today you are looking to buy into the real estate market towards its recent peak.  

So while deductions today are generally worth more than future deductions.

Not considering it will take years of perfect rental with no vacancy or capex just to “break even” with where they are today.