There is a lot other consider here and quiet often its not worth it unless you have a large lot or plan to be there for another 10yrs - 15yrs.

Prices haven't fallen, and rents haven't moved up enough.Investors either need to work harder, be more creative, accept negative cash flow, or sit on the sidelines. 

I’m being a bit uncharitable here, but they backed off of their original plan, stayed silent for two months, and then quietly passed a regulation stating four or more unrelated occupants can’t live together.

Do you have any updates on where things sit with their current funds or just the one you're in?

Your overhead and cost of capital are something to consider as part of your plan. remember if you get an investor to invest $250k but it takes you 3 months to deploy that  capital that is $5625 in interest you owe them, and say you can only invest $200k of it you are gonna have money always sitting on the sidelines.

QUIETLY ask around the community who most ppl use for sprinklers.

I found the deal sitting on the market for 21 days which believe or not is a long time for the area.

If all you are doing is just sitting and waiting for tapes to come to you, you will eventually find some deals, but it will take a lot longer and you will have to kiss a lot of frogs before you find the princes. 

There are countless short-term rentals sitting empty there. 

Real estate investmnets are capital intensive and if you don't have extra money sitting around to make the emergency repair when it happens you'll find yourself in a terrible position.