Bishop arts investing

[Ronnie Woolbright]

Hi Dallas BP members,

I am looking to invest in the Bishop Arts area and neighborhoods right around it. I have mostly invested in Tarrant county (Arlington, HEB, FW) but looking to add a small multi unit in Bishop Arts. Budget would be 300-500k range. Does this sound reasonable for the area and what is your experience in leasing this area? Wanted to get a feel for the quality of tenant in the area and turnover. 

Also as a followup does anyone have any info on remodeling in this area? I wanted to know if there is a lot of red tape involved in remodeling since it is a historical neighborhood.

Thanks,