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This reminds me of how Alex Hormozie describes "the value equation"; Experience in this case is the factor that determines the likelihood of achievement. 1,000%Alex Hormozie is one of the greatest marketers not just alive, but ever. 

This comprehensive approach captures emerging trends and significant shifts in the US economy, offering a detailed benchmark for metro performance.Our report and interactive online tool break down the components of the BPC index, delivering actionable insights into the factors driving short- and medium-term economic performance in US metropolitan areas.

85LTV ask on a LTR rental is a tough ask, when adding an STR factor, nearly every lender will reduce max leverage by 5%. 

If you can rent it for enough to cover the principal, interest, taxes and insurance and still put money in your pocket, plus cash flow on the property you're purchasing, that would be ideal.

Honestly if you are doing STR I would suggest doing Austin itself rather than all the way out there in Kyle - maybe a couple of years ago when the prices were through the roof in Austin city itself this would be a good alternative but there is a blip right now where you can get a god entry point in Austin (downtown/east ideally) for STR

They don't allow auto payments or automatically add late fees, and tenants would have the option to pull their payment back, which is not ideal.

I am conflicted on whether to use the 500K on one big property (ideally multi-unit) or buy several smaller properties.

They are mocking these up with interest only loans and factoring back in the tax deduction as if you qualified for the tax benefits of a real estate professional and factoring in the diminished first year property tax (since its not a full year).

That style of learning and introduction to true industry catches my attention as having someone in the space that understands the space to bounce things off of and learn from seems to be the ideal way.I have through a handful of the webinars and follow up calls with different companies and they all basically pitch similar ideas and strategies.