@Jonathan West - If the purchase agreement doesn't' require a copy of reports, then it should be a minor or non-issue, just ask for the $ back and provide a copy of the report after funds are returned.  

I think Texas is a very tough buy and hold market because of escalating property tax's foundation issues and herd mentality of investors creating demand that would not be their organically.

@Rez Cury taxes is the main issue, plus contractors seem very unreliable

@Russell Brazil Thank you for your feedback and based on your statement knowing how to work with an appraiser shouldn't be an issue if you present yourself as a professional and respect the process.

I want to know if there are folks here on BP that have been doing this and so what are the pit falls, and implications on tax and other legal issues. 

We have people ask for references and do their research when they are consider using us to manage their properties, and have no issue giving them what they need to make an informed decision.

There are legal issues in Calif when attempting this approach.

Idk if it's even legal to evict for that but I've literally had zero issues.

Of course, there are some scaling issues, but that's easily solvable with a paid team.

My only issue is I live in California and always have; therefore, I am not familiar with the market but plan on moving there within the next few years after acquiring a few rental properties.