I add 15% to my Rehab budget to cover potential cost over runs and delays.  

Personally if I see a potential lead that way I would rather call then send a letter.

However, I would just run numbers carefully on the properties you have available and start to narrow down areas in surrounding areas that have the most potential for growth in the city, appreciation, new infrastructure, etc. 

On the other hand, the total gains = income + capital appreciation, that you can potentially enjoy in Austin will far outpace most other MSAs. 

To do so would be injecting value into the IRA and akin to undocumented contributions to the IRA.The IRA could not purchase your tractor from you and you may not be the one doing the mowing under any arrangement.For you to run cattle on the land would also potentially create issues. 

If he sacrifices now, he could have cash-flow for years to come.  2 jobs and a scorched earth budget for 12-18 months in exchange for a potential cash-out refi in 24 months and long-time success. 

Looking to potentially buy my first live-in flip or house hack (what ever the future wife desires) within a year.  

But not sure if i can fill the potential of the land, because that's what your paying for in this property in the super safe suburban area right off the highway, not the tiny house on it.

Yea it seems to have the potential for some really solid returns, and seeing what's happened in the NYC areas (Williamsburg, Bushwick, Staten Island, Jersey City) for the past 10 years if it's done right it booms.But thanks for the advice, it definitely isn't a rule that artsifying a district is going to work. 

With a MTM, it gives me so much more flexibility in potentially giving a 30-Day Notice to adjust rents, add/subtract lease terms, and/or weed out problem tenants.