For example the homes must be livable and you can only sale 1 per year without a license.

Oh, and you may need to use simple math in your example. 

Good from an investment perspective, but at the same time another example of the tx state govt squashing any attempt by cities (Austin in particular) to exert any local control/regulation.

Notable examples of folks being burned buying company stock at a discount include, but limited to, Enron, Worldcom, Lehman Brothers, GM and a whole host of other companies.Having worked in finance for a long time, I can tell you that no company is doing you a favor by letting you buy their stock (discounted or otherwise).

I can go on with more examples, but I think you get the gist.

For example, Texas is a non-disclosure state.

Here is an example: I own a property with one house on a 1/4 acre lot.

For example my last purchase was 72k, after rehab I was in 100k, appraised for 170k.

For example, a property built in the 1970s or 1980s of 100 units in size is likely to have an expense ratio (operating expenses divided by total income) of 50% or more.  

The proposed example is 4 duplexes and 1 quad.