Jung,Welcome to the BP forum its a great time to start as mortgage rates fall and home prices still priced well in many states.

I'd definitely get an average priced property (something that is a starter home) in a good area. 

I use travelers for almost all my STR policies. pretty solid insurance and good price

Purchase price: $425,000 Cash invested: $5,000 Helped my past client out of a difficult situation.

Hello , I’m new in real estate and thinking of buying a property in Pittsburgh, prices are about lower compared to NYC where I leave .

You can get solid cash-flowing single families in the 90-120k price range and duplexes in the 130-180k price range.

Is your father in law financing 100% of the purchase price?

Courtesy of the video, criteria to consider include Deal Type, Management Plan, Business Plan, Financing, Asset Class, Ownership Structure, Property Class, Location, Purchase Price, Rehab Costs, Risk Target, and ROE Targets.

As you're just starting out in Austin, focus on learning the local market, particularly areas with good rental demand and lower entry prices.

I think it is great you obtained those lots at that excellent price and want to increase the value.