In the end my tenant received a reward for being respectful to my property and I am now have this unit locked until next year with a small dip is gross rev!.

I'll also check with the city on any potential liens, I think any inspection would have to be done after my $15k deposit so it would be a high risk, high potential reward type deal, and there is a 15+ bids already.

Going into an area with little data is high risk but could be high reward. 

Stay consistent, set clear goals, and remember real estate is a long-term game that rewards patience and persistence!

Its a steep learning curve but very rewarding if you stick with it.

Investors who take a patient, forward-thinking approach can still reap substantial rewards.

We will meet at different adaptive reuse location each meeting to see the transformation and discuss the opportunities, challenges, and rewards of this strategy.

Not in Austin TX, now it is Austin CA where you make your money on Appreciation but you have to hope the market rewards you.  

In the end, you have to decide the cost / benefit / risk / reward of doing one makes sense in your situation.COST - You have outlined some of the costs, but not all. 

Building our PM company has been the most rewarding experience of my career.