From Zillow:"Three variables influenced Zillow's hot market predictions: Zillow's Home Value Forecast, which forecasts the change in the Zillow Home Value Index over the next 12 months, recent income growth, and current unemployment rates.

Since IRR is a time relative calculation accurate estimates of time or the point in time influence the accuracy of the model.  

Does the length of times that bank has the property on their books influence your offer?

Imho, if they ever do build the national park, values will rise substantially.

My options:1 - Rent my current home ( mother and daughter) and move to new location and work and live in location.2 - Find a flip or rent and hold  do work and let the chips fall where they may.My Issue is I dont have substantial  provable income  which will make it hard to get a conventional loan.

It is common practice for real estate owners to charge disproportionately small option fees for the right to buy their property at a given price (especially when a call is paired with a lease), which affords real estate investors the unique opportunity to recognize substantial upside potential while incurring hardly any risk.

However, I want to own a substantial amount more than my parents.

Something that would draw a short term small cashflow but would grow substantially to eventually be mortgage free by the time I retire in 20 years. 

The area you are considering is wonderful but, you need to be careful with Texas foundations because they can crack and need to be repaired at substantial cost.  

Since the future isn't promised would the property cash flow w/o any substantial rental increases?