@Lisa Mauritis Most brokers are going to want to see your ability to perform as an investor to do that kind of work on a day to day basis. 

Now you are a slave to their values and their ability to bring you to the house.I'm an agent but relist most of my flips with local agents.

Here's what I know:The city of Corpus Christi has a 3-yr apprciation rate of 5.9%The city of Corpus Christi has a 1-yr apprciation rate of 6.7%Zillow predicts that the neighborhood will appreciate at 7.4% in the next year.The house is on an island, so expansion is limited but has not yet capped as there are still vacant lots scattered in this area.This address is in the best school district of the metro areaThe city experienced 10% net population growth 2000-2010The city's two main college campuses had a combined enrollment of over 22000 students in 2011.The city's top ten employers are in the sectors of military, education, health care, contruction, government, and grocery (local grocery chain headquartered there)The house is a 3 bed 2 bath, which is on the small side of avg for this area.What more what YOU need to know before deciding to invest in this area?

This is for my duplex that is owner occupied on one side, so I still have the ability to be selective about who I rent to, as I would prefer if the renters had older children since I have a German Shepherd who has access to the entire yard.

The ability for buyers to get financing can also play into the decision.

Looks like you are in a great position to capitalize on the growth.

It would also depend on the property and ability to add 3 bedrooms and have a desirable floorplan.The only way to know for sure would be to see what the comps tell you.

This is a competitive advantage on the rehab side, and you should exploit it, which could make all the difference in making a deal solidly profitable in a hot market like Austin.You should look very seriously at doing some retail flips initially rather than just trapping your modest capital into a slow-growth rental strategy.

Once the 12 months have passed you can do a limited cash out or rate and term refinance.A Cash Out Refinance coming from a land contract is generally not allowed and can not be sold to the GSE.A local bank might have the ability to portfolio a loan like this (cash out refinance from LC).

That doesn't mean it's a walk in the park.So I'd say it's a different happy than an afternoon at the beach, but as a professional and growth activity, that it makes me happy.