I know some people do this but proceed with caution.

Caution. 

Oil and Gas offerings are what I have heard a lot of people move too.What I always caution people who buy vehicles is: Are you buying it because you need a new vehicle or are you buying for a tax deduction.

I would also caution if you are intending on a vacation rental be very cautious of the individual town restrictions.

One word of caution.  

The only caution I give people is to make sure they have a solid income to where they won't feel the pain of the loan. 

An investor with shallow pockets could get burned in Austin at this time.........proceed with caution.  

A word of caution related to any kind of mortgage: if you get money from your parents and you plan to repay them, then it's not a gift.

What I've seen before is the only time rules are enforced are when neighbors get pissed (ie STR neighbors).I would side with caution on this, especially if it is a newer built community where the rules are fresh with people. 

I would caution on having a high deductible / inadequate coverage policy with a property in Athens.Dan, a comment you made that I don't concur with is the cap ex on a new build of 300/month, unless it was a low quality builder (I have no idea who the builder on this property is).