Again, if your $250k is true, and includes all the electrical upgrades, new plumbing runs, potentially new foundation pour (since I assume the existing garage slab is not capable of supporting a new two story house), I am guessing since I don't know the market, but assume you will have a lot of equity by completing the project.

Digging down is a project I am just finishing up.... it is exhausting but potentially worth it.

•Instead of transferring the title, consider using strong landlord insurance, an umbrella policy, or a land trust (with your LLC as the beneficiary) for added liability protection.Your FHA Loan Potential for Another Property•Since your first home is already a rental but was likely purchased with an FHA loan, you may still be eligible for another FHA loan—but only if you meet one of these conditions:•You relocate at least 100 miles away from your current home.

Single-family homes offer higher cash flow, lower maintenance, and potential equity growth, but may have less privacy and slower unit growth.Good luck!

I could take on a job that pays a lot better, however, my current job gives me a lot of spare time that I can pour into real estate investing (at least 30 hours a week, potentially more at times).

It's nice, but it's also over built for it's investment use potentials. 

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Does anyone know of any folks in the Austin, TX area available to show properties to potential tenants?

Dubai is a dynamic city with great potential for growth.

To attract investors, offer incentives like high cash flow potential and tax benefits, and structure the deal with clear legal terms and contingencies to minimize risk.Good luck!