Plus you are local and more familiar to the area so that is an added bonus. 

Example: LOT 4 AND THE SOUTHEASTERLY 2 FEET OF LOT 5 BLOCK 0 CAPRI ISLE BLOCKS L M N O ????

Your planned extensive renovation is dead.

There are so many empty lots, whole blocks even that cost $4000 or less.

If the work is not 100% complete by the end of the Escrow period, loan may implement a .50% (on total loan balance) extension fee that will cover an additional construction term of 60 days.

Ads for properties and requests for properties can be posted only in the Marketplace.

Very friendly, responsive and has extensive market knowledge in the DFW. 

It seems like a solid basic house : slab, block walls, single story, post-lead paint construction, and town water (wells are a Pita).

I also like using the cap rate in apartment complexes versus the comps used in house value and adding value with a greater return on apartments. 

any fee's you pay to foreclose are also added to your note.. and if someone took it sub too those folks generally wont have the ability to cure.. but maybe.. a lot of sub too in lower value assets is get in title for very little money then rip the rents.. knowing they will have one to two years in the foreclosure process so they get 800 a month for a few years.. do not pay anything on the property and walk away..