I am new to the Round Rock/Austin area and interested in connecting with people doing multi-families. best,april

As @Brian Burke says, might as well go to Vegas and bet on red:)

I have tried calling the back on some deals and it seems to be a lengthily process, of course because all the red tape we have to get through for the final action.

Is that like a rock garden with desert plants or just plain concrete and basketball hoop? 

Not only is your business life rocked but you then get to come home and hear about it on the personal side.My personal banker over here in Portland we have been doing business for going on our 23rd year.. and so that has led to some interesting conversations over the years.. and his number one issue with a problem loan is usually a partnership break up that is compounded by business where the spouse is also a principal.

To help you learn more about my track record please proceed to message me, let's talk about how I can help you Purchase Real Estate at the rock bottom price and then move forward taking about how I can help you, as a absentee owner. 

When you are breaking even and something breaks you are immediately in the red with repair costs, and there are always repair/maintenance costs with a house.

It also shows a few houses for rent in the neighborhood, meaning that getting a tenant might be hard if it's not marketed correctly (I think the school angle is an ok way to go).RED FLAG: Last sale was in JUNE for 56k.  

If the listing agent is selling a property with tenants and warning that you will need to EVICT the tenants that is such a huge red flag.My first questions would include:Why is the owner selling it (if its not a foreclosure/REO)? 

The red tape and hoops that you have to deal with can be a nightmare and cause months of delay before you even touch a tree much less break ground.Also I agree with Devon, some architects do not live in reality (as a building contractor I live with it all to much) so it is important that you have a product to produce that you can not only sell in your market, but you can tweak and add value engineering to as you learn to construct your product, this can be equated to time or material, and is in my opinion the number one reason you would consider recreating a building multiple times and only change the façade.