San Antonio / Central Texas should be some solid areas for BRRRR strategy - I'd be a little careful in the gulf coast areas like Beaumont though - a lot of weather risks that unfortunately keep popping up

This will protect you legally potentially. 

You might also meet someone that could be a potential business partner.

This way it mitigates any timing risk due to the 45 ID period deadlines.

If I build the same thing for multiple investors in downtown adjacent neighborhoods it helps spread the risk. not one person is local to my market doing this because we aren't a capital market. all are from high price point areas like New York, Texas, California, etc 

- Is there a potential zoning issue?

I'm thinking of using that same money to potentially buy a rental property that could yield more and appreciate in value over the years.

Because it takes repetition for people to remember things and you have to be top-of-mind when they encounter a potential client for you!

You can certainly withdraw your offer - even if they signed it and you did not.It really isn't necessary to provide your potential mid-term tenant an explanation for your actions.  

Additionally, the surrounding areas are potentially better for those whom like the LTR model, especially if rents are similar to the bigger cities.