Appliances and fixtures were old and tired.Basically, the core bones of the property were good, but there were a lot of things that seemed ripe for easy improvement.The location was great, right next to the town’s primary commercial district, with a grocery store 100 yards away, coffee shop/bakery, Post Office, drugstore, hardware store, hair and nail salons, barber shop, dentist, bank, a half dozen restaurants, and a variety of other shops and services.

I saw the income potential in a college town and ability to add value.

And, importantly, fear around my ability to confidently show the Seller that the deal I am proposing is one that CAN help solve their challenge or problem (once I find out what that is!). 

With interest rates on the rise, how has it impacted your ability to sell properties in Texas?

Essentially, there must be a paid parking footprint in the area already.The ideal asset would cashflow from day one with the ability to add value via technology, operations improvements, and/or NN lease addition (or renegotiation). 

So your 5-plex will help you with your ability to get into commercial real estate.

Furthermore, these start ups are usually VC funded, and the demands of their investors is that they scale up quickly, which runs counter to the ability to master even one local market well, as I detailed above. 

Lenders will want to see your ability to manage the mortgage and any other expenses related to the rental.3.

Quote from @Masyn Grant Barney: Utah had a bill passed (SB240) with limited funding (it has been plenty so far) that gives $20k to first time home buyers in a form of a 0% loan that is paid back on refinance or sale.

Don't have to be on the deed even to declare it your homestead.It may be splitting hairs, and I may have been unclear in my initial post, but I believe homestead laws are designed in part to protect non-title holding spouses, so if the new wife moves into her husband's house he cannot sell or mortgage without the wife's consent nor can it be forced to be sold to pay involuntary creditors (as opposed to voluntary creditors such as mtg/DOT lenders).