I had somehow managed to remain oblivious to the fact that neighbourhood association and, in some cases whole communities, banned clotheslines for aesthetic reasons until about a decade ago when friends of ours moved into a new subdivision and erected one.They eventually challenged the neighbourhood association and were allowed to have the clothesline if the neighbours adjacent to their property did not object.  

@Russ is right much more details including objectives would help others to offer advise on how to get good deals done.The deal you mentioned, using only the details provided, is not what any investor would consider to be a good deal.With a rent of $3,400 per month using 50% as the expenses the NOI would be $1,700/400k = 0.00425% return.

My objective is long-term buy & hold.Devan, Thanks for your unbiased input.

Meet with seller(a) Have an answer list for most seller objections(b) know my buying formulas cold so I can shift buying strategy during meeting to meet seller needs or objections.4.

Buyer A makes an offer on a property that was purchased 2 years ago for 20% more than his offer, the property is in great shape, the current owners has made many updates, comps in the area are much higher than the proposed purchase price, the property meets all cash flow objectives for the Buyer.

Darn those new shiny objects that try to convince me they need to live in my garage.

Apart from the numbers (the objective), you should also look into the subjective (i.e., the neighborhood, type of clientele, existing residents, etc.).

You If cashflow is your main objective then you can still get that in the far north and south areas (Cedar Park/Leandar/Round Rock to the north and Kyle Buda to the south).  

The objective would be to connect with the local agents and see which companies they work for and how they like the environment and people there, etc. 

There's no question there's an emotional component to this stuff, because you're dealing with objects that are brick and mortar and affect people's lives.