If cash and capital gains are mixed then it gives rise to a pro rata treatment for tax benefits.For example if an investor invested $500k capital gains and $500k cash into a QOZ fund (and received stock) only 50% of the appreciation on the stock after 10 years would be tax free as only 50% of the initial investment was capital gains.The form to self-certify as an OZ fund has yet to be released by the IRS.If you have already invested cash into a QOZ for the tax benefits I would highly recommend you speak with a specialized real estate CPA who is well versed in QOZ's.

Since speaking with Ralph, Matt, and Moneyman, my irrational exuberance has dwindled, and my friends and I have all agreed that we need to practice on simple properties first.

-Speak to local agents or other traditional lenders who may have a referral.Mark Ferguson goes over this in detail in his article here:https://investfourmore.com/2013/05/12/how-to-find-a-portfolio-lender-who-will-finance-multiple-investment-properties/Hope this helps and best of luck!

The seller can grant you permission to submit plans for approval so you don't have to close on the property to go through the entitlement process (see what I mean--I bet the county didn't tell you that--they give out bad info all the time). 

Speak to your attorney and make sure to get title insurance as well.

I can’t speak for all companies, but for us, it’s not a big deal if you are purchasing a property that had the meter stolen.

I don't yet know the seller's motivation, so I can't speak to the possibilities for owner financing.

@Dave Foster may know of the “trick” you speak, or can debunk it.

I've confirmed that I am able to do this, logistically speaking, but would like to know if there are any tax repercussions.

I can’t speak to TX law, but in VA a buyer has 3 days from the day of receipt to terminate the contract based on what in in the documents.