The complicating factor is that I already own the land where the new property would be built, which would exclude any improvements from 1031 exchanges. 

Get into flips and into lending because if you lend, you're going to end up in a situation where you are in an asset that's improved as it's flipped because you buy, renovate, and flip.

We’re getting central air and a few other upgrades and I wanted to get thoughts on if you’d change the wetbar back to a half bath if you were in our position… and also how soon you would do this.We have the funds to do it now but would prefer to do it next year if possible (contractors are booked months out, we’d like to get it up and running ASAP and it would be nice to not add this to expenses right off the bat). 

I’m trying to buy a home from my in-laws and there selling the home to me for 100k the house value is worth at least 200-250k or more, and I plan on making improvements.

Many capital improvements, improved appearance inside and out.

I thought hopefully the part-time job would help improve my odds of getting a loan through a bank.

I would love to talk with you off-line I’m looking for deals and I’m in Texas as well and I could sure use any sort of skill improvement. :-) 

There are some PMs that offer a variety of other services like HVAC tune ups (once a year- for 1% of monthly rent: as an example), dropping air-filters to tenant every 6 months etc.

For long term we would have to start with budget as that will dictate what areas we look in, cash flow is going to be tough to find anywhere near Orlando, appreciation and doing value add improvements will go a long way pretty much anywhere within an hour of the city.

Yes, it kills your cellphone service, but saves you beaucoup money every air conditioning season.Also, make sure the house is well insulated.