If anything goes wrong with the job that can be made to look like it's due to the plans, they are on the hook.if their actual cost to produce a set of plans is $5000, they should charge you about $15k IMO.Or you can try drawing them...

Job growth, population growth, markets that have had rent growth over the last several years and projected to have continued rent growth.

Situation:We're acquiring properties at a steady rate (2-4 per month) and I'm looking to improve our cash management. 

Real estate needs to be viewed with a long term perspective assuming you have a nice W-2 job. 

My question is this: is it wise to put the full $200k into the initial purchase of our personal residence, which would allow us to qualify for a house that better fits our needs since only my wife has a guaranteed job at the moment, and then, after a year, pull that equity out to invest in a multi-unit? 

Just add up the original purchase, add any renovations/construction/improvements, and divide $23,400 by that number to get your annual CF yield %.If it's 10-15%+ annually, you might want to hold it since that yield on your current cash is hard to beat. 

Have a very stable job and income but DIT slightly higher to get easy approval.

Austin is a very challenging cash flow market, but that's because Austin is a market in high demand with strong job and population growth.

I would use my capital to make other improvements or investments rather than spending on a sprinkler system.

Regardless of the plight of illegals, my job is to protect a very expensive investment, and if someone can't be taken to court or sued or have their wages garnished, etc., I am not going to gamble on them.