As there are so many variables for an old house, I decided to look for a new construction. 

Driving for dollars seems to be our best bet as of now.

My wife's tiny little home town in West Texas suddenly got a big boost as they found a bunch of oil nearby the other year and suddenly all bets were off.

All of these places have a bunch of new construction going on, mostly driven by large developers.

So areas like that are not a smart bet compared with more urban areas.

I feel like I am learning a lot and have been able to slowly build a team (so far a construction crew, property management company, and advisers) that are willing to work with me, but I feel as though I am starting to go into analysis paralysis. 

I have a ton of life experience in construction, real estate, and business consulting but I'm now moving forward with my dream to both flip and buy-and-hold residential properties.

I used to do about 5-10 per day during the week just to get the hang of it.If you do not understand construction and afraid you'll be taken advantage of, go learn at Habitat For Humanity.Looking for deals can be tough these days, especially in Austin. 

Taking on underfunded investment properties can become very stressful financially and emotionally.Remember - if you decide to wade in now "Cash Flow is king" meaning it needs to cash flow when you buy it don't bet on being able to significantly increase the rent to improve cash flow.Good Luck!   

., but as someone with zero experience, would the single family lot be my best bet?