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

Hi Meghan,Curious why you would choose DFW instead of Memphis to get started on your portfolio, especially if you are local.  

Also, make sure to connect with local contractors to get estimates on your prospect properties.

Localized knowledge for an agent or investor is needed to answer most of these questions.

Some ways to find that person is local Real Estate Investor Facebook groups, local Real Estate Investor Associations, Realtors who list multiple properties for other investors, Bigger Pockets website's forum, and local property managers.You will also want to try to get on the buyer's list for local real estate wholesalers.To Your Success!

I mean by safest is on the volatility, for example STRs have many different factors, seasons of the year, local government regs and much more.

Quote from @Ray Joseph: If you attend a local meetup, I'm sure you'll find investors that operate in other cities or states.And you have thousands of out-of-state investors to mingle with right here!

I agree with your approach in aiming for better locations, seems that texas (dallas /FT worth) fits the bill.

Its going to really depend on your location, scope of work, and finishes.

You picked a great community to join.. have you checked out local comps to gauge the market vibe yet?