I am conscious too that many areas that flood are not even classed as flood zones (though I think that was more of an issue in Houston)I might look at opportunities to do a SFH with ADU that is not far from a good commuter rail station.

We are currently based in Houston, TX, but soon (2 years from now) moving to Indianapolis, IN.

I came across a deal for 2 adjacent lots, one with a dilapidated house on it, just 10 minutes from Downtown Houston.I'm thinking about knocking it down, building a driveway down the middle and building 12 townhomes (6 on each side)(Very common in Houston). 

I’m in Houston Tx!

@John Ho I would walk away with a BIG smile on my face and then celebrate cause i walked away from huge risk. 1) Given Houston impact for O&G, we should not expect much of appreciation for next 1-2 yrs 2) We save when we buy  and at market price that will not happen unless we believe appreciation will kick in immediately 3) You are putting 20%+ down which should qualify for investment loan (typically 25%) from land from banks etc where rate is around 4.5% now .

During the raining months in Houston, the water may stay for weeks at a time. 

Second the walls should be cleaned of loose material and then parged with a suitable concrete mix (think of it as plastering).As for your purchase, basement wall issues are not rocket science or the end of the world, just need to be professionally dealt with.

My question is, in the Houston area there are some multi units that’s new construction or that very old.

., Sacramento, Calif, Dallas, Houston, San Antonio, Las Vegas, Atlanta, Minneapolis.

I’m originally from Houston so these areas aren’t incredibly dangerous feeling by comparison, but these are areas that the locals seem less desirable areas.