I think we will eventually move forward, but we are in the investigative stage right now, and also need to find a good real estate lawyer and accountant with experience in this area. 

Interesting that you've used the same agent to already buy two properties, but you feel you would be wasting the agents time to ask them to investigate the potential third property.

While I will not provide detailed answers in this post, I will point out some areas that you should investigate before making any decisions.Start With A Clear Goal“If you don’t know where you are going, you might wind up someplace else.”… Yogi BerraI always start with a clear definition of the end goal and then work backwards to where I am today.

Will do a round of conversations to investigate more about the market in Austin and San Antonio and then follow up here with possibly more thoughts and questions :)

sect...There might also be some local rules in Fresno, so make sure you do your own investigation or hire an attorney.  

Unfortunately, there isn't a black and white answer to this; there are a few different variables so you kinda just have to investigate each situation separately.

I've been ignoring most of them, because when I do investigate, the story is invariably fishy.

If the investigator deems it has merit they will proceed but if not they will drop it.

I am working on a rehab deal now and once that is complete, I should have enough money to buy a small rental property.After talking to some people, listening to podcast, and doing my own investigations online, I have gotten mixed response as to how to purchase my buy and hold property. 

Hire a private investigator to track him down.