I can make up my own mind as to what is right. 

Like some others said take a good look at the neighborhood make up of where your rental is located.

In that effort, I have been referring to posts/blogs/podcasts here on BP, educating myself of the more objective aspects via city-data, talking to realtors, and contacting property managers.As investors, I'm sure, many understand that unfortunately, as a non-native, I am simply limited to the depth of the information provided on many of the sub parts in the cities that collectively make up the state of Texas.Moreover, sometimes numbers may look extremely good on paper, from an objective standpoint, but there are other factors that an out of towner wouldn't know about that would make the deal unattractive.

In fact, depending on what happens with tax legislation, your ultimate tax bill could be larger than it is now.

Most states have emplaced legislation to prevent the resale of distressed properties at a profit with no fix-ups or value-added.Most ethical processes remain in legal in most states, such as acquiring distressed property through a short sale, fixing or rehabbing it and THEN reselling at a profit, etc.The early- to mid-2000's processes of "A -> B -> C" sales with no rehab or value-added by the "B" buyer have been outlawed or seriously inhibited ("title seasoning") due to the rampant abuse which occurred.Even wholesaling of unlisted properties (selling your position in the purchase contract) is under attack in most states.

Do they need to know the LOC's will be towards Investment properties or could I tell them i'm using it to start a used make-up collection business (That was the first thing that came to my mind for some reason not that I would ever go in business for that haha.)Long story Long, thanks again for all your input.  

In my area renters make up about 40% of the population with foreclosures being modified constantly to multi-units.

They just raised DMV fees to make up difference.

Pierre , if your home doesn't sell in time, could you move back in to make up the difference and avoid the taxes?

Then hit on :Your Comment on Legislation.