Whenever you have a wet period that area will stay soggy because the soil will reach its maximum absorption capacity quickly without the ability to make it to subsurface fissures. 

If you have a W-2 job you might want to keep it and increase your ability to do more things.  

Theoretically the only thing holding anyone back in real estate is the ability to find deals and raise money.

I believe that in general, this is a game for the deep pocketed, with good lawyers and the ability to lose a few rounds.

I wouldn't do one without having the ability to close and possibly carry the property short term though.

@Harlan VaughnMany people prefer the ability to invest in alternative assets such as real estate to highly restrictive plans setup by brokerages.

Just put a cousin or somebody in it and keep a bill going there in your name

The ability to shut down an HOA is going to vary from state-to-state, and based on the terms of the HOA's CC&Rs (aka declaration or covenants).

However, being successful at flipping Austin homes may depend on what type of home you want to flip and your ability to attract investors.Buying and Quickly FlippingWith the demand for Austin real estate being so high and inventory levels being comparatively low, buyers will likely be lining up for the home you're trying to flip.

Rates are kind of all over the place in Rome. 3/2 apartments outside of down that aren't very desirable can be $750-850.Downtown lofts ON Broad Street (the main road in our town) are all between $1,100 and 1,800, with half the square footage as our house would offer.Downtown houses near ours, but with 1,000+ more sq/ft than ours...rent for $2,500 or more.To the best of my ability, once it is renovated, it will be very desirable to our target market tenants (young professionals).