If the numbers locally don't really work that well for you, it's a pretty good way to get your feet wet and use each property as a learning experience. 

We’ll need to observe as we move through spring and into the early summer.Here are the full stats for Austin and the greater metro:SXSW is now in full swing in Austin, with many attendees renting one of the numerous short-term rentals in the area.

Depending on how your reserves/portfolio look like, there could be numerous strategies. 1031 exchage?

- Are you adding a bathroom or wet bar down there, or just a rec room?  

Do whatever you have to do and get your feet wet but just know you will be learning the most when you actually do the work.

In addition to numerous tradition RE related investments (most individually owned but some as LP), here are our unusual investments (both are RE related, but not what is common on this site)- I have mentioned this one a few times on BP, when fracking was just starting to be known to the general public (near turn of century), we purchased mineral rights in North Dakota.  

I live in the northern part of the country with long winter/wet seasons.

I’ve had numerous issues with Airbnb first as a property owner/provider and later as a tenant.  

And after reading this reply (amongst numerous others)...

Search the BP for ADU appraisals to encounter numerous examples.