Quote from @Dean Sexton: There are benefits to both options.

I’ve realized I need more passive options, and have moved to a syndication and private lending.

Focus on neighborhoods near employers or schools, and explore slightly outside Austin for more affordable options. 

typically (as you probably know) you buy something distressed, with either cash or hard money, you fix it up, and then you refinance into long term debt. 

I do want liquidity to invest elsewhere which is why I'd like the cash back from the reno ASAP, but I don't need liquidity equal to the value of the house--just the basement build-out, if possible.With option #3--how do you "cash out immediately"?

@Ethan Slater here's some info we hope you find useful:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I’ve worked with a few tools for property intel, and while no service is 100% accurate, some options have stood out for specific use cases:BatchLeads: They offer a solid skip-tracing tool with good accuracy and detailed reports.

Does anyone have any insight into what these types of businesses are typically looking for in a partner and what I should be doing to make my space a good fit for them? 

Staging your house well can help you attract more attention from buyers, which ultimately helps it sell faster and maybe for a higher price than an unstaged home (see visual):What Are My Staging Options?

While I’m open to both turn-key and fixer-upper properties, my preference leans slightly toward value-add opportunities where I can improve the property and increase equity or cash flow.That said, I’m also happy to consider turn-key options that provide immediate cash flow if they fit within my investment strategy.