Price $25,000 they could have developed and rented.  

The biggest employer in the region shut down about a year ago, and over the past year, the area was directly hit by three hurricanes (two of them major). 

From what I’ve heard, there are reputable local management companies in regions like San Antonio or Omaha that handle everything from screening tenants to arranging quick repairs.

The first indication is you spent $290k for $1800 cash flow or a 0.62% monthly ratio.Rent $1800 - PITIH $1480 - $180 (pm) - $90 (vacancy at 5% which is lowest i ever allocate in my underwriting and likely low per the OP description of a lot of new development) = $50 for all other expenses.Maintenance/cap ex on 4/2, 2100’ will exceed $300/month even in cheap labor markets on sustaining basis.  

I own 40 properties, have a family full of developers/attorneys aka all things annoying, and I am a former senior wealth manager. 

Hopefully it'll be lower, but that where's my urban developers in a few other markets are seeing their numbers come in.

Plus, there's huge appreciation potential here since there's so many companies moving/developing here (Intel headquarters, Amazon, FB, Google, Nationwide, and recently Anduril).

The description states the property is "ready for rehab and development".

Many Texas cities are incentivizing developers to build affordable housing units, but challenges remain around keeping these homes accessible long-term.

Red Rock Development spent $50 million building the 600,000sqft warehouse (that Amazon now occupies) without a tenant lined up based off the projected growth.