I work on my own vehicle and am always tinkering with some sort of building project.

Take that money and you can:Flip - only if you know what you're doing, such as you're a contractor/handyman, or an architect or good at project management. 

I own a unit in the bldg and get a massive Cap Rate as I bought it distressed.I love zip code 07306 and 07307. 

What other opportunities would you be missing out on by committing your funds to this project instead?

It was not a perfect deal, but it cash flows well, and allowed me to buy my next multi family deal after the refi, so it worked for me.On my current projects I am rehabbing and value adding two 6 units, when its all said in done, I will have about 110k out of pocket, and will be able to pull out around 130k after leaving 150k equity down in the new loan.

There is huge potential in clearing out the extra land that is currently forest and adding multiple apartment complexes but that isn't a project I feel like I am not ready for.

I have an opportunity to buy a 2/1 renovated property  for 120K with projected rental income around 1250. 

Hi BPer'sI am new REI in Houston TX and I am currently under contract for my first major rehab project. 

Then build a massive portfolio with your high income and no debt.

I guess I'm not sure what you are projecting?