This concerns me about the potential to maintain a solid tenant base and would likely cause a higher vacancy factor.

STR is another concern, many towns have laws against it but most towns do not enforce these laws, just make sure you are aware of them becuase they can be enforced. 

I have liquid assets and want to make smart, scalable investments that balance cash flow, appreciation, and low risk.GoalsGenerate consistent cash flow to diversify my income.Maximize appreciation potential for long-term wealth growth.Invest in areas with low crime rates to minimize risk.Reduce my tax burden for 2024 with real estate purchases.My Current ThoughtsI’m torn between two main strategies:Multifamily Properties:Looking at markets like Austin, Raleigh, and Tampa for 10-50 unit multifamily properties.Love the scalability and centralized management, but I'm concerned about high upfront costs and competition.Section 8 Housing:Considering affordable markets like Memphis, Cleveland, or Indianapolis to purchase 5-10 single-family homes.I like the government-backed rent stability, but managing multiple properties across different locations seems intensive.Key QuestionsWhich strategy would you recommend for my goals and liquidity?

Low insurance" is concerning to me, as Athens gets a LOT of high wind / weather / tornado activity for unknown reasons - they just got hit again last weekend. 

Ethical ConsiderationsYour concern about ethics is valid and shows you’re approaching this with integrity.

That is a very dangerous way to engage in real estate investing, wouldn't you agree? 

Did you find any additional help or learning concerning over-the-counter tax line investing for Texas?

If they’re concerned about price, offer creative terms like seller financing or a higher price with favorable contingencies.

The problem is that you don't get an opportunity to do an inspection before you buy.If you buy pre-sale from the owner, you have arrears to bring current, getting the owner to move after you have solved their problem and taken the pressure off, along with the previously listed concerns.

That is my concern too.