This combined with my new boss giving me additional responsibilities (how dare he...) and the support of my wife prompted me to take the plunge. 

Here are a few additional ideas that have worked for me and others in competitive markets like Austin:Off-Market Leads from Contractors: I had a friend who rehabbed a house in North Austin last year.

Recently completed a cash-out refi and want to take that money and buy 2 additional properties (~$200k or less each). 

Interest only loans allows them to get a goal profit of $500-$600 per month per property.3) Each acquisition would require 20-25% down at an 80-100K purchase price. 4) Closing costs, and the Eric Spofford turn-key transaction fee of 10K would be in addition to the down payment and were not included for the purposes of calculating the cash-on-cash return.

Please let me know who you have worked with and why you like them (How many properties do they manage for you, how long have you worked with them, what you like about them etc.)When the unit is vacant, do they cover the cost for professional photography to rent it out again, or is that an additional fee? 

Just DM me if you want any additional data.

In addition, the PM is running a business and insurance (GL and WC) costs money. 

Quote from @Deandre Brown: When analyzing deals, a few additional factors I like to consider are whether the electric and gas utilities are charged per unit or as a single expense.

Meaning, two different parties have ripped my listings and falsely advertised elsewhere.So a 1:25 scam-to-door-ratio per calendar year hahaIn addition to fraudulent advertising, I have lockboxes that enable remote showings.

I will investigate TCS to see if I can add it to my funding arsenal.