A general piece of advice; watch out for our property taxes.

Cash flow isn't much for any house above 250k but no doubt appreciation will be good after 15 years especially many big tech are moving their HQ here.One thing you should watch out for is property tax (asset value get reset every year) most new build in these area are higher than those houses in an older community because of one thing call MUD in TX which provide water, sewer and drainage, plus most house in the suburbs area of Austin are build in a HUD which all has HOA fees range from $20-$100 / mo.

@Daniel McNulty (great last name by the way...did you watch the Wire?)

Cash flow isn't much for any house above 250k but no doubt appreciation will be good after 15 years especially many big tech are moving their HQ here.One thing you should watch out for is property tax (asset value get reset every year) most new build in these area are higher than those houses in an older community because of one thing call MUD in TX which provide water, sewer and drainage, plus most house in the suburbs area of Austin are build in a HUD which all has HOA fees range from $20-$100 / mo.

Watch some Everyday Astronaut videos on SpaceX and Musk on YouTube.

. :)  Have you ever watched Everybody Loves Raymond?

there are probably guys that can put the property back together for $60k, but I would look at their scope and background very closely.I've seen dozens of guys get burned on gutted properties they think will cost $50-60k to get rent/sale ready...maybe this is who you want to flip your contract to...just watch the progress and be prepared to snap it back up when they run out of money.In reality, you should have an architect/engineer on the scene to develop the scope and construction cost estimate.

This person has told me they smoke meth and is paranoid that his car is going to get stolen and all the neighbors "watch him".

And definitely watch out for restrictions!

I guess this is something to watch out for but I am not sure how often you should expect it to happen.