But then I was thinking to myself, the lot directly behind my current rental, in a fairly mature neighborhood, is empty. 

@Joseph Alfie how well do you know the differences between Class A, B, C & D tenants/neighborhoods/properties?

The one who thinks that they are masters of the universe in EVERY area of life, has 30 different businesses, claims to be fit as a fiddle, with a life in perfect harmony, shows off huge toys, has 30 different businesses, including selling their time by the hour to provide coaching... this person is not running a real estate syndication business.

See, I have "Truth-Tourette's" so I would admit this honest truth, take your info, your "buy-box" criteria and keep in touch for anything that comes through my team that seems a fit, THATS where it can work.

I updated the bathroom/porch in the spring, and am finishing construction on a 2-stall garage (the previous garage was basically a large shed that I could not fit much in).Moving forward I am considering one of the following options to put my money and build equity:1.

2019 Built in a Class B neighborhood of Houston.

Purchase price: $295,000 Cash invested: $50,000 Single fam home, desirable neighborhood.

I mean how else would Sellers (or even perhaps buyers) know that you own a neighborhood? 

With things like the ONE Linden plan in Linden, which is a 50M plan to improve the neighborhood.

That's most likely going to be a C- neighborhood or lower so there could be more perceived scale to BRRRR, but a tougher decision on how to renovate at that price point and possibly harder tenancies.I would get to real estate investor meetups in your area.