I haven’t found anyone else besides my family that enjoys investing like I do and most people where I live just aren’t interested in self improvement of any kind.

With ARV at 135,000 at a maximum loan of 70%, you can borrow up to 101,250 which means, in this scenario, you could get the 85% of acquisition and 100% of rehab, i.e. total loan amount of 83,750 with an initial release at close of escrow at 63,750 which is 85% of acquisition, and, the rehab holdback of 20,000.15% of the 75,000 acquisition down is 11,250 and closing costs are likely ~3,000 so you initially need ~15,000 to closeAfter close, a prudent hard money lender will require reimbursement style draws which means you must first complete at least phase one of improvement/rehab to the property before drawing down on the rehab hold of 20,000.With only ~5,000 left over after close, you don't have much room for soft costs like utilities, nor much room to get the rehab started, nor much room for the monthly debt.

Improved the house to have a basement rental that covered your mortgage, then sold for $100k profit with basically nothing into it.   

Problem is there aren’t a lot of inventory and people get aggressive when they really need a place to stay.

@Tanner Sherman makes a great point regarding REPS and whether or not one can benefit from the accelerated depreciation.To answer your question @Alex Bellini, each property, and type of property is unique and have different assets and amounts that can have accelerated depreciation into 5 year (personal property) and 15 year (land improvement) categories. 

Not improved.

They are rezoning to PUD RMD 104 to 247 units on all 13 dry mostly clear and improved acres with 1580 ft frontage & city water on the street and city water & sewer across the street.

https://www.har.com/content/newsroom/Houston Real Estate Highlights in November-Single-family home sales rebounded from a slight decline in October, rising 3.9 percent with 8,320 units sold versus 8,010 in October 2020;-Days on Market (DOM) for single-family homes dropped from 46 to 35;-Total property sales rose 5.6 percent with 10,216 units sold;-Total dollar volume increased 20.6 percent to $3.7 billion;-The single-family average price rose 12.6 percent to $383,807; -The single-family median price increased 16.3 percent to $314,000 – an all-time high first reached in June of 2021; -Single-family home months of inventory registered a 1.6-months supply, down from 2.1 months year-over-year and below the national inventory of 2.4 months;-On a year-to-date basis, single-family homes sales are 12.0 percent ahead of 2020’s record pace and 22.2 percent ahead of 2019.

It is improved residential land that is ready to build with power and water at the property line.

I want to add value but not over improve.