We budgeted $100k and that’s our goal but have extra just in case something pops up so this $120k is a high number.

When I was stationed in Northern VA, high costs had me stuck until I sold my Corvette to meet my DTI ratio and get a condo using my VA Jumbo LOan—one of my best investments.

Days wind down and now they have a (knee jerk) reaction and buy something non-optimal for a property just to avoid tax penalties.Had they been realistic starting out they would have had time to locate quality properties to buy instead of looking for a Unicorn.

I have my eyes set on a plot of land near my home where there is high income and significant traffic in a rapidly growing area in Cedar Park, Texas (north of Austin). 

-i highly recommend you travel in person to your chosen market to build a team. 

And that's not enough and the risk is too high at that margin for starter homes.

However:Strategic Tax Planning: Work with a CPA who specializes in real estate to maximize deductions like depreciation, interest, and operating costs.Higher Rents for Premium Properties: Some investors offset the tax by focusing on properties in high-demand areas (downtown Greenville or near universities, for example) where they can charge a premium rent.Short-Term Rentals (STRs): Consider STRs like Airbnb, where higher nightly rates can make the numbers work better than long-term rentals.

Risk assessment and mitigation: Quick analysis of crime rates, school quality, economic stability and environmental risks. 5.

Quote from @Ava Petruso: New to investing but been in the real estate game for 8 years as a high volume realtor.

Price of entry is high, rent is super low.