Being near several lakes and having lake front lots I can say that you can easily get 3 to 7 k more on a quarter acre with a lawn instead of brush, rocks and fallen trees, sometimes more depending on terrain.If the place appears to be unkept with weeds and limbs in the yard expect a lower offer than if it has curb appeal.

If there is a second story with finished flooring it can get very costly because they may have to cut holes in flooring or sheet rock.

Landscaping- see what the development group will require and what you will want, even if engineering fabric with rocks on top. $15,000m. 

It's almost impossible for a starting investor to get in unless you won the lottery, have a trust fund, rocked out an IPO (choose one.)But for those of us who are already players, accessing existing equity is a great advantage.

We currently are in Round Rock and market is crazy.

Williamson County (North Austin, Round Rock, Cedar Park): 39.8% population growth since 2010Travis County (City of Austin and Pflugerville): 24.4% population growth since 2010Hays County (South & South West Austin, Dripping Springs, Kyle): 46.5% population growth since 2010Granted, Williamson County has nearly 3 times the population of Hays County and Travis County almost 6 times the population of Hays County.  

Heading NorthEast from Austin the closest suburb is Round Rock, then Hutto, and finally Taylor.  

Should give you a rock solid start of how they would do.

You guys rock!

If you watch any of the Flipper shows on TV you can see right away that the majority of those Pros look for destroyed houses and they don't think twice about gutting everything, including some of the sheet rock.