Then I recommend you network with local investors to find -potential deals-the debt (lender)-equity partners -contractors/property managers Real estate is a long game, so be patient and stick with it. 

Like @Kenton LeVay said, it's shades of Ehhhh from an optics point of view.If you can be patient and put that property into service for a year or two then it would be absolutely fine for you to change the use of the property and move in whether or not the LLC was a related party or a disregarded entity to you. 

Time to keep looking, plugging forward and remaining patient.

BUT all of the fundamentals that make Austin a GREAT appreciation play (if your capital can be patient) are still there and growing stronger.  

@Wyatt Postal I would at minimum immediately notify them (in writing via a certified letter but also via email "for expediency and safety").  

The deferred maintenance scared me off, because if they aren't fixing loose handrails, which are a safety hazard, God know what else they aren't maintaining. 

This is especially true if you do the leasing and are patient as a pm or realror wobt feelblike waiting fir the right person and making minimun wage. 

If you think they may ask how adding additional driveways in the neighborhood will affect traffic flow and safety, pay a civil engineer to come answer as an expert witness in the event the question comes up.

Thank you keep in mind you just don't wake up one day and pull this type of project off its a progression in ones career.And I could not do it without a fantastic Banker who has been with me through the good times and the bad ( 2008 to 2011)It was said banker that encouraged me to have no debt on the land for additional project safety instead of max debt which of course juices returns and allowing an exit strategy if needed.   

I called and ordered a new oven and they were going to install the new oven, but said they couldn't because there's no gas safety valve.