Typically when you see "cash only" the agent doesn't believe the property can pass a home inspection which isn't relevant for construction loans in most instances and there are plenty of banks, hard money lenders etc. who offer construction financing on distressed buildings.

This is relevant for multiple reasons 1) appreciation is where the real wealth is generated in RE 2) real estate has tax advantages over cash flow 3) in CA property tax increase is capped.  

I would say that most of the information in that book is still relevant, but many of the numbers will be outdated.

Perhaps there is a relevant book or podcast that you could suggest to expand my knowledge in this area.Considering you're experience with creative finance deals, which you mentioned previously, I am keen to hear about your personal insights and experiences.

Would prefer newer books that are still relevant if that matters.

As lenders, well issue a prequal/preapproval letter if we've analyzed your income, assets (bank and brokerage statements to establish that you have the liquidity to afford the down payment, closing costs, and reserves), review credit of the guarantors, review the relevant experience to ensure that we're not throwing our money away on newbies that are wandering around in the dark, and have put together a reasonable plan of attack for the project.

A cost segregation study should only need to be performed one time for each property and the annual depreciation calculated during the study using the detailed asset listing is relevant for as long as you own the property.

This is a revision of my popular post from 3 years ago.

If I were in your shoes, I would set up keyword alerts for the Texas cities you're interested in as well as any other keywords that are relevant to your plans.

Although certain defenses do exist including, insofar as is relevant here, unreasonable hardship, " 'the court's discretion to grant or deny specific performance of a contract for the sale of realty is not unlimited; unless the court finds that granting a decree of specific performance would be a drastic or harsh remedy, or work injustice, the court must direct specific performance' " (id., quoting 91 NY Jur 2d, Real Property Sales and Exchanges § 204).