If you own a property through a reassessment period your taxable value is capped at a 15% increase at each an every 5 year reassessment (not counting physical type changes).

The process has actually been a lot more difficult and taken far more time then I was originally thinking and has been going on for two years now, hoping approval comes in the next month or so. 

Check with the lender and escrow company to find out what the caps.

If your job is flexible then it's a good way to get started but if not it can be more difficult.

So we are currently trying to find land to buy and we usually use HAR, Trulia, or Zillow and finding property in the north Houston area that's not crazy expensive is difficult.

The lenders in my market are looking for the buyer to be clear on their ability to manage the property (you or your team), the reassurance they will get their money back (you may have to personally guarantee the loan) and the typical numbers (CAP, DCR, age, condition, etc.). 

The cheapest "flip" jobs I've seen and are usually in bad areas or have very difficult features to get around (unsightly neighboring houses, weird additions, next to busy roads).

NET would be 82,000 which is a 5.4% CAP.

@Isaac Feil  Yeah...this business, especially wholesaling is a little more difficult than advertised. 

Good luck and I agree with the others that this would be a difficult first flip.