Congrats to your wife on the job offer!
This may not be of any interest to you at all, but I'll offer the information at least. You mentioned you're wanting to stay investing in Austin's city limits, and I wish you the best of luck with that! I will mention, however, if you're comfortable with investing a little farther away, there are 3 major universities within 2 hours of Austin. Those are UT Austin, A&M (and Blinn) in College Station, and Baylor University in Waco.
A lot of people have no interest in investing in college towns, since there's quick turn around with tenants and some of them can be...destructive. Both great reasons to stay away. That being said, from my time living in Waco, I rarely saw duplexes, triplexes etc empty. College students eager to ditch the dorm tend to swarm to these.
Example: I know someone renting out duplex in Waco near Baylor University - Each unit is a 4 bed, 2 bath and he's charging $1650 per unit, which is actually really low rent in the area (typical rent per room in the area is ~$550+). So that's $3300 a month in rent for the duplex (which cost him ~$215k), and he's never had vacancies because that's a super competitive rate around Baylor. Unfortunately I don't have an estimate on his monthly expenses, so I can't convert this to cash flow.
It peaked my interest. I intend to invest in these college towns some day just because there are so many renters in the market, but again it's not for everybody. Just wanted to throw out the idea since you're not too too far from those towns.