I stopped at the "right" part.You need to start interviewing PMs in Austin, getting a feel for prices to renovate(hvac, water heater, floors for material + labor, etc.).

Also consider your lifestyle and if you want to be traveling 3 days just to check to see if a water heater is installed correctly and your property manager is looking after your property.

At that point we tested the waters and gave them the option to keep the money or to reinvest it in another property.

It would hold up to water or condensation from cups.

Wondering if anyone has experience either way with properties in flood zone A?  

Waived Fees: For vacant lots that previously had homes, water meter and sewer tap impact fees are waived.

If that's the case, you would charge rent + utilities + water or just lump it into one rent fee.One thing to keep in mind is that friends often bail on deals like this once you get it so you have to be prepared to have to figure it out if you get the house and he isn't interested.

Adding amenities like power, water, and a barn or pavilion could increase its value as an event space.Farm-to-Table Experiences: If agriculture is possible, create an on-site farm-to-table business where people can visit, harvest, and eat fresh produce.

Where's the main water shutoff valve?

How long a stretch does it run to provide proper slope to drain the water effectively?