I always advise my clients in this market to sell anything you don't want to hold long time and buy/rent anything that you do.The market is definitely softening but from experience will be higher 5 to 10 years from now. 

Prices soften, sold to list ratio is coming down from it spring peak too. 

In many places the market is softening a bit, so be sure to have your expectations in line with what the market is doing. 

It seems like the market is softening and prices are coming down .

If it's not an outstanding value or owner financed we are not interested.I do suspect that as RE prices soften, not crash, some of the people who bought in 2021 with 3% mortgages will be upside down and need to sell and there will be an opportunity to buy subject to.

Make sure to get a water softener for the well if there isn't one there already and you should also get Reverse Osmosis drinking water at the kitchen sink.

As an example, if you are 90% leveraged on a property, if the market softens, rates rise more, it may not be possible to get out from under that property by either having a property with negative cash flow or you are bringing thousands to the table to sell it. 

And housing prices are softening more by the day.You will be able to do the BUY-REHAB-RENT part of the process.

The seller had an appraisal completed back in May that was $865k has no influence on the value today, especially in the current environment that the market is softening a bit. 

A few notes- If you're looking for BRRRR opportunities around Austin they are still very difficult to find even with the softening market.