While Texas is a non-disclosure state, the appraisal districts are pretty good about capturing values off deeds of trust, etc so expect that number to be higher after the sale unless you bring a lot of cash to the table. 

You're asking the right kind of questions.My understanding of the Tax Reform act is that the interest deduction limitation is $750k for a first + second home.With that said, it may be advantageous to purchase the property as a second home, then place it in service as an investment to capture the advantage of a lower rate and deductibility.The catch is that you'll have to keep the property in your name vs. holding title in the name of an entity.

We have a number of single family houses as rentals and are both self employed as service workers (acupuncturist and chef).  

This captures the net rental cash flow for a particular year, and adds that year’s net equity increase (net appreciation and principal payment or debt pay down).FormulaAnnual Cash Flow + Net Increase in Property’s EquityDivided byAccumulated Equity Prior to Year

What has been the most cost effective way to capture seller leads (especially anyone in Socal)?

What has been the most cost effective way to capture seller leads (especially anyone in Socal)?

This is tax free if I choose to sell and capture the equity. 

Before transitioning into hard money, I'd run Facebook ads to sales funnels that featured my listings to capture buyer leads.

If it was (being a free market) someone would have offered $10M to capture that $1M in purported value.

I suggest (without knowing the exact street address of your listing) you price it at $199,800, capture all buyers looking up to $200k and catching those above it and hope for multiple offers at that price point quickly.