My objective to to develop a portfolio of multi-family units that will supplement me in retirement (within 3 - 5 years) so Cash over Cash return is key for me. 

Older structures built with lots of wood frame like the Museum in Rio that burned down with millions of unreplaceable fossils and art and historical objects are real catastrophy's.

Out of the hundreds of ways to build a transactional business, don't get shiny object syndrome and try to do them all. 

Will acquiring this property accomplish those goals and objectives?

Though the studio employed over 250 people, its existence remained unknown to the general public until the 1990s.

@Puja Devi it all depends on your personal objectives.

I would like to learn more how of these example situations would come across in Austin, TX or anywhere and know that with right tools, and a team do HELP better despite engaging an unknown territory, but at same time confident upon learning what Austin could offer for. 

I hope to be objective here but I think you'll be pleasantly surprised by the quality and quantity of data that you get here.

Then focus on areas that you fit in your investment objectives.

Not going to recommend a full gut for a first time newbie as it’s much higher risk with more unknowns and you don’t have established group of contractors to trust and get a pricing from.