SFH buy-and-hold in Austin area

[Chen Li]

Hi BP'ers! Out-of-state investor here looking to buy-and-hold our first SFH for rental in Austin (250-400k, 20%down), going for long term appreciation (>5yrs)/okay with negative cashflow in the first few yrs. Been checking out posts on BP and absorbing lots of insights (you guys rock!), came up with a few questions would appreciate your input:

1. Would school district matter a lot in terms of SFH vacancy rate? Specifically we're looking at SFH A in Roundrock (78665) with good school vs. B in east Austin with no schools (78723). The advantage of the latter is it's closer to downtown Austin. And...what is a typical SFH vacancy rate in those areas?

2. What would be a reasonable expectation for rent of a new SFH (3/2/2, 1900sqft, ~$400k) in 78723? I was told around $2800 but somehow that seems a little optimistic, any data point is appreciated (other zipcodes are welcomed)!

3. We are looking at new SFH b/c way down the line they require less attention which fits our strategy especially since we are out-of-state. The assumption is that appreciation is proportional to the asset value so paying more for new only hurts cash flow. And...obviously no value add opportunity, which again, hard to see myself doing a remote flip anytime soon. That said, would love to know if there're other pros and cons with buying new SFH vs. old

Thank you!