You kind of answered your own question by indicating that the area hasn't seen any employment growth in 20yrs.

no. paying someone for "advice if this is a good house to invest in" is crazy. if he finds you the deal, sure... what kind of stuff will he help you with, btw?

If I use it to put up a new apartment building, then I have all kinds of problems - oh he doesn't really have construction experience, or new construction doesn't have proven income....What if I just cash-out refi and put the money in the bank and do whatever I want with it when the bank isn't looking??

I dont know what kind of sewer work the other spots would need to rent them

Hi Justin,What kind of cash flow goal are you trying to achieve.Depending on age of the building tear down can get expensive as you have to mitigate asbestos and other items from going airborne.

I don't know NOVA specifically, but I grew up in that area, and I would *guess* that you're looking at $100-150 per square to build, NOT INCLUDING land costs.The bigger question is what kind of experience and network do you have?

In addition, do you have the right kind of entity structure that minimizes the self employment taxes you pay on business income?

What kind of fee structure should I look for?

It feels kind of like making a deal with a hand shake and not putting it on paper and then having the other party(me) back out.

What kind of licensing does Texas require?