That said if you're looking at buying or converting into a multiunit, you should be able to at least break even with 2+ units if you're looking at doing mid-term (saw your other post).

***Update Here***Should I keep Or Sale Gut Flip in B- area.If I sale my new flip best I’ll get is 30k after 9 months.If I keep as a Long term rental I’ll have to convert the garage into a 1 bed cottage at an additional cost of $35k leaving a total of $107k left in this deal after 70% refi and closing cost.

I've noticed in my area that houses that have been converted into 2 units tend to sit on the market for much longer and sell for much less than traditional single family houses with similar sqft and finishes.

It's a fairly easy switch to convert from STR to MTR.

Instead, you need to convert it to cash flow.

I had a property rejected for city certification (to use as a rental) because the windows were 1/8 of an inch too small.

Could you simply look at buying in Austin with only 3.5%-5% down as a new primary residence and converting your Midland property into an investment with a monthly cashflow of $500?

Another option if your profit is over that amount is to convert the property to a rental which would then qualify the property for investment use, Then do a 1031 exchange after a year.  

There are other details as well such as borrower documents will have to be translated and converted to U.S. dollars in a lender approved manner.More on DSCR loans: DSCR loans won't use your income to underwrite the loan.

So consider the costs to convert or add space on the property after a purchase, and the income that would be added from the addition of the space.Since the property purchase includes a high price for land already, the rentable space that you add to the property can have a net positive impact on your overall cash flow, allowing you the potential on the right property to reach a net positive cash flow, and also the potential to build a portfolio of properties over time using the strategy.Transparency: I am Greg from BuildCali dot com, and would be happy to help you with any project you have questions about and to share some great free online resources for further research.