First, as someone else stated, if there was a keyed lock on the BR door, either you provide the tenant with a key for it, or you disable the locking mechanism, or you replace the entire handset with a standard bedroom set.

Definitely not ideal or something I'd recommend to someone. 

Unfortunately experience means you've made some costly mistakes :-) So, to avoid those costly mistakes, when I take on a new approach in investing, I buddy up with someone that already has experience doing them.

Even if someone in these forums were to teach you a creative financing strategy that required zero out of pocket cash and the seller was willing to accept those deal terms, you still aren’t qualified to own real estate with your current balance sheet.

I would recommend getting a property manager there because you want someone who can keep an eye on your place for you.  

Someone is going to be very unhappy if they have a tub filled with sewage.

8%-11% is pretty standard here and as someone mentioned it really just depends on how the company is run.

Best advice is to partner with someone who specializes in investment properties in the Austin area.

Can someone easily explain best way to leverage my new property, etc to be able to get a 2nd, 3rd, etc by only using my properties as collateral?  

Are there strategies, financing tips, or resources you’d recommend for someone in my position?