Say you have a fire or water damage in the house and you have to file a claim with your homeowners insurance.

The buyer's attorney claimed that only one of the two spouses signed the easement.There is a significant water view from their property, near the top of a hill. 

Test

Taxes are half the cost compared to CA and insurance is lower if not by the water.

A decent home away from the water in Rockwall should cashflow (unlike Plano and Frisco), look off John King blvd, or parts of Fate.

Just keep an eye on how both markets are performing, and maybe start small, like taking out $50k, so you can test the waters without over-leveraging.

I also invested in improvements: new roof, water heaters, other major appliances, and a kitchen renovation.Now, my situation has completely shifted.

Storm sewer, storm pond, sewer lines, water access, fire hydrants, public bathrooms, surface coverage, sidewalk or bike paths, setbacks, power lines and right of ways known and unknown, road access, etc. 5.

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

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.).