I'm a KC native investor, real estate broker and I help run a couple companies that handle contracting and property management here in town. 

What’s the size of the town?

I will explore that option as well. 

If you wanted to buy a lot that does not have existing BOHA and were able to get as many tests as possible done ahead of purchasing (perc test, soil test, engineering, surveyor, talking to town building dept. etc.) and they all came back ok I'm wondering if anyone has ever heard of still ending up with an unbuildable lot somehow.  

The back story is I live in a very hot town that is a high tech hot spot. 

I've only invested in South Florida to date (I own several condos) and would like to explore investment possibilities in Atlanta and the surrounding area (multifamily is my preference but I'm open to sfh). 

Suggest a FHA lower down payment larger MF in a more active town with high paid jobs....

I have a town home in the Frayser area that is a 3bd 2 1/2 bath with a balance of 4k owed on it recently new carpet, painted . 

One of them is an SFR, another one is a town home with HOA.

The one I am looking at would cost me roughly $5000 to make it a nice old beach town mobile home and would cash flow around $250-$300 a month after paying lot rent.