talk to your CPA.https://www.biggerpockets.com/forums/51/topics/1133534-how-d...as for appreciation - that has more to do with the market and less to do with the method of acquisition. 

Lord knows there are a lot of fancy, online GP's now with beautiful websites, YouTube channels, and 10 people in their investor relations department but only 1 inexperienced guy in their acquisitions who couldn't underwrite a lemonade stand.good luck :)

The investment plan includes property acquisition, reserve fund creation, rent maximization, and equity growth.

Are vacant properties in Texas a better investment compared to other property types, considering factors like acquisition costs, demand, potential appreciation, and holding expenses?

You may get a hard money lender to lend as well but you will probably have trouble getting traditional financing for acquisition or if you decide to hold on to the assets.

So how are you identifying the target acquisition you make then?

Great area and property needed significant renovation upon acquisition.

Purchase price: $925,000 Cash invested: $200,000 13 Unit Multifamily property in the Waveland neighborhood of Des Moines, Iowa. pre-acquisition: 7% under MR and 15% vacancy/bad debt.

do you know how you will fund the acquisition? 

I'm sure the GPs also lost millions but they also make a lot due to acquisition fees.