I'm a big fan of using what is there, cash-flowing it and using the cash-flow over time to improve the property.

I am looking to live in the home, while making minor improvements while living there.

Is it bad idea to invest in properties in Houston due to hurricanes and the high chance of flooding?

If plaintiff hasn't given the bid-to number to the agent or doesn't want the property back, there is a chance that property goes for $1000 or less.

I would probably avoid somthing that old rural, as the return on improvements will be more marginal.

That is fine if it is the right size and material, but if not, why not measure it and go to the home improvement store and buy the material to do the repair right.It was taking them a longer than average time for them to rent the house and it had already been vacant a month before that due to my last property manager.

If I keep my costs within that range I have a good chance of getting my cash back.  

We might be able to pinpoint where people are dropping off and see if a small change could improve the results down the funnel. 

We look for an oppourtunity to improve physical, operational, and economical efficiencies.

Even more so if it is one that you can fix up while you live there and slowly improve it as well to get forced appreciation.