I know that a ton of people will win with the approach you are contemplating taking - in taking a HELOC out for the down payment on an investment property. 

In the future, if you're a landlord, remember that these are your customers and try to approach your business from that perspective. 

Due to high demand, many investors in Austin are finding they need to adjust their approach a bit to make the numbers work.Rehab Budget: Ensure that bids are received from multiple contractors and that adequate reserves are made for cost overruns.

Yes, it may go by the income approach but depending on your area, the comp approach may also be factored in. 

. $5mil, that will be radically different on what opportunities are approachable. 

It’s advisable to consult with a tax professional or financial advisor to determine the most appropriate approach for your circumstances.

People are imperfect and things like late payers is something you deal with in your approach to managing properties more-so than in the vetting process because if tenants were perfect most would be owners not renters.

However, because I need to focus on my business, I'd like to approach the vacation rental investments as investments as much as possible.

I started my MTR journey with a multifamily property as a LTR and slowly converted it one unit at a time and was really happy with that approach.

This doesn’t mean anything is “off”; it’s just how I prefer to approach this.To address your other questions, the property listing states that it has a new roof, plumbing, and electrical systems, which I see as a significant plus.