I am going back out to view with my GC on Thursday and if he confirms for me what I think, I want to submit an offer.

I think it's pretty commonly held knowledge, at least by those of us living in the Houston area, that our city has grown exponentially over recent decades.Well, CultureMap posted a pretty cool .gif the other day showing by just how much the city and surrounding areas have expanded since the 1940's, with the most impressive growth spurts coming since the 1970's.You can view the brief article and .gif here: http://houston.culturemap.com/news/city-life/05-16-16-see-how-dramatically-houston-has-grown-since-the-1970s/

40 acre lots, beautiful views, tons of bank owned inventory for sale, only $60k.  

He hung his license at Big Block Realty and described it as "investor friendly" so might be exactly what you're looking for.  

Account Closed I was immediately thinking ADU as well when you described the large garage in back. 

As an aside, my wife and I are both avid dancers (lindy hop and swing), and I was struck by how much what I just described fits with how we talk about good leading.

This means your rent will be different as described previously and perhaps more costly, you will have to spend a lot of money to renovate the space for a less specialized use.

One word of advice is to take action, many folks investigate, review, analyze, etc...for a long time, I would recommend - go look at 50 properties, find a broker/agent that will open the doors for you to view them, analyze each property financially before you go in, knowing the numbers prior, then adjust your numbers.  

I then explain that I always like to do a preliminary financial analysis before viewing the property.

my point is if your BASIS is 10k plus 15k  = 25k BASIS for tax purposes.. regardless if you put a 35k loan on it... if you sold it for 39k minus your closing cost or any other write off your taxable income is the difference between 25k and your net proceeds.when you borrow above you basis this is tax deffered IE you don't pay tax on it as its refi proceeds.. ( now some do) but most don't... until you sell the asset.I think the point of the post of the OP is that the person giving the talk said that you can shelter or not pay tax on the refi proceeds and that's correct while you own it.. but not correct once you sell you must then pay tax on the True gain  IE basis and sales price as described above.