Currently we are renting in a city of Orange Co California, where the rent and property prices are higher, however we need to live here due to staying within the school district for my son for at least the next 4 years.Recently we sold some property overseas and have approximately USD $400K in cash.

Don’t be in a hurry either!  

If the seller is in a position where they absolutely need to close, we have transactional lending that we use for anywhere from 48hrs to 30 days.

Does someone know a range of how much $/sq ft a parking space costs in a busy area say downtown Dallas vs non busy area? 

A 1 bed room studio in a good area that is NOO STR eligible starts off at $600k. https://dlgoodmanproperties.id...In Davidson County a Short term rental is any rental agreement less than 30 days.

I recommend for out of state investors to buy in a class B or A area and a nice well occupied building.

There is also one big issue with your tax projection - the taxes of $280 are based on the vacant land taxes and will likely go up to ~$2000-$3000 in a year or so when the assessor catches up with you.I realize there is a 1031 involved so a real estate purchase is necessary, but you should compare your ROI to a safe yielding instrument like a 10 year T-note or AAA corporate bond yield. 

This transaction showcased our effective strategy and project management, resulting in a substantial profit.

We plan to help her find a nice multiplex to buy and live in as her first place.

Fast forward to 2022 I'm awarded this property in a divorce and now it's my primary residence when I'm claiming primary residence.