@Zachary Schneider, thanks for taking the time to write such a detailed comment; it says a lot about your character that you'd go out of your way for a new guy like me.

I personally dont think houston is a big equity play city, not now at least... theres several reasons why that i wont bore you with but if you are not buying for cashflow in Houston i think you are making a big mistake.the area you are talking about is going to be a young professional, hipster, millennial crowd... the risk is though this age demographic is starting to form families and im betting that history will repeat itself and they will find their way to the suburbs ...sure there will still be people that dont want that lifestyle, single professionals  etc, but i just dont believe this idea of EaDo will support the market pricing in the 5 yr time frame.things are starting to reshape in houston surburbs , almost every one of them are starting to have "hipster" "trendy" type of things to be more identifiable to the next generation of buyers.i think eastwood is nice and it has a lot of character but ask yourself would you raise kids in the area or be willing to be outside late at night... if your answer is no to both then you cant price it as a premium market

Kelvin Letron BrantleyA HML or PML is going to consider the deal itself, risk, character of the borrower, capacity to repay, the collateral, experience, etc.

I always had to chase him down.So, after that experience and a couple of others, I've become a firm believer that most people with bad credit have bad credit for a reason and I also feel that credit is in some ways a reflection of CHARACTER.

Remember, in a pass through entity, all items of income and deductions retain their character.

In Clark County (southern Nevada - for non-Nevadans) zoning and its flexibility is also a matter of context - provided both by the adjacent land uses as suggested by Scott, above, by the over-arching Master Plan for the community, and by the vociferousness and/or complacency of the surrounding neighbors.So, while checking with your friendly development official for the details Scott suggests, also see whether there is a master plan for the community in which your target re-zone land is located and what flexibility it may imply or allow for - and for their assessment of the character and mood of the neighborhood regarding a zoning change - or waiver.  

We have a few flippers in the South Los Angeles area and as the elderly leave their homes and the local turnover increases, we're going to see more RE transactions and flips because these neighborhoods have homes that maintain a  lot of character, they're still relatively affordable compared to the rest of LA, and the commute to DTLA is also really short (it takes us 15-30 minutes to get to DTLA depending on the traffic).

I'm a pretty judge of character and I do thorough background/credit check and all these have been good tenants, but all are travel extensively.

There is a fair amount of charm left in it, as it was built in the 50's and has some architectural character.  

@Erik Romo - You're a realtor so you know first hand about characters that promise and can't deliver!!