Another consideration would be to look at it as a start-up expense if it's regarded as a trade or business (can deduct up to $5,000 immediately for eligible start-up costs).

The odds that anyone on Section 8 can become a home owner may be OK in a low-cost market, but the odds are ridiculously small in Austin.

Any ideas or expected costs? 

This, however, changes not only from county to county but also by neighborhood, zip code, school district, etc.Another change we are witnessing in real-time is increased seller’s concessions, which can go towards financing closing costs or buying down the interest rate.

There's a limit to how much repairs can cost vs. a complete raze and re-build(will check current regulations to see what they are).My only concern are the liens and the problems inside.

Everything costs more than you think it will.

But are just sitting on it as the development cost is too high.

Purchase price: $95,000 Cash invested: $30,000 Sale price: $173,000 Purchase price – 95,000Closing costs at purchase & sale - $6800Total renovation costs $21,935Sold for - $173,000Total profit – $49,265https://www.zillow.com/homes/11311-marbern-dr-hagerstown-md_rb/37683475_zpid/https://www.realtor.com/realestateandhomes-detail/M5889931134https://www.redfin.com/MD/Hagerstown/11311-Marbern-Rd-21740/home/15360019 What made you interested in investing in this type of deal?

Interest is the cost of borrowing money and, as the article says: “As long as you’re making that money work for you—for instance investing in other property—and your rate of return is greater than your cost of the HELOC, it’s a good tool”I am paying roughly 4.5% to borrow money on a HELOC that is making me a minimum of 20% on my investments.

Probably not, be happy your water costs are actually lower than they used to be and use this as a win.If you want to prevent this in the future you can tackle this one of three ways, assuming they are allowed in your area (check before you do anything)1.