We have restricted cities in my market that are loosely enforced, but I would highly suggest not going into an investment "hoping to not be caught". 

Any other suggestions to improve my due diligence process would be appreciated.

Upon searching the popular areas my graduate friends suggested (Uptown, The Village, Greenville), I have determined there is no way I can justify renting a property in that range.Funny enough, I am currently living out of a 2 bedroom condo north of Dallas (short term air bnb) for my internship with one of my college friends (we split rent).

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

One suggestion to consider as I mainly do BRRRRs as well- find a local bank or credit union in the area you plan to buy that offers construction loans.

We also buy the rentals we lock up and offload some too so I'd suggest doing your marketing in the market where you want to build your portfolio. 

I appreciate any advice or suggestions.

Any suggestions?

I look at asking price as a suggestion. 

@Jay Hinrichs Gave me a good suggestion to ask the BP community if anyone has partnered with Y Street Capital Victor Menasce before as a Limited funding Partner.