One must always think very critically about hidden traps lurking in a deal and yet avoid the dreaded 'analysis paralysis'. 

I am from Alvin (which is right between Houston and Galveston) and was born and raised right in the area you want to invest in!

If the guy does manage to get in a window again he will be trapped unless he climbs back out the window.

Born and bred in north-central Ohio - after graduating high school and serving in the USAF during Desert Storm in the early 90's, I jumped on the IT bandwagon where I've been employed for the last 20 years.

I was born in Ft.

Your primary residence falls under the 121 Exclusion under Section 121, which is generally a "better mouse trap" since it is tax-free (if you qualify).

Look at the long view, not just the short term "trapped equity" perspective many folks have on this question.

I was born and educated in Indy.

This advice comes from a guy that ended up trapped upside down in a horrible investment (see my comment above about the 3rd property that I REALLY blew the budget on).Good luck!

Everyone is born with a different a talent so I'd say do what you are gifted with to earn your way back.