CoStar now owns Loopnet, Apartments.com, Lands of America, Smith Travel Research, BizBuySell, and other sites.

You will likely find that few properties will cash-flow at such high rates, and high prices on homes.  5 years ago, we bought properties in our area for $78/sf.  

I have a lot that is zoned A-1A or Agricultural District (minimum building site of 1 acre).

You just have to know how to buy and how to position the financing, but yes all of our properties cash flow.

Do we buy a cash flowing property maybe somewhere else entirely to just start the process of investing in real estate, or do we just buy my mom a place and pay that mortgage down as quickly as we can since our own primary is at a very low interest rate here in CA.

We bought our house a little over a year ago and at first everything was fine.

I found someone a condo in Mount Crested Butte about 6 months ago where the numbers would work to cash flow a little/break even including pricing management into our numbers. - As with most forms of real estate.

Also the land in question already has a well and septic system with electricity on site as well as a driveway and is zoned for cabins/mobile homes and single family dwellings among a few other things.

I am open to other scenarios.We have access to $200k ish in equity in our primary.We will soon have access to another $100-150k for retirement/investing/IBC/etc.I would like to move into my young family into a (new build or fully renovated side by side) duplex.

Grateful for any insights to kickstart our journey into Texas multifamily real estate investing.