And each former LP (now a tenant in common) can do a 1031 exchange on their portion. 

But I am a weirdo, don't listen to me!

MOST transaction aren’t BELOW market, although I’d venture that 85% of those buyers BELIEVE they’re purchasing real property at a discount.  

Listing immediately at a bit of a discount to fill it quick on ST leases to reup in spring.

They usually require experience and they are lots of docs needed from architect drawings to a lot of permitting. 

Austin is a unique beast in itself, and many property owners have an overly inflated perception of their property's value.When I flipped a property in Austin, I sourced it through a New Western agent.

Sounds like this is at a discount.

I wouldn’t purchase a STR property anywhere it wouldn’t work as a MTR or LTR unless its local economy is based on STR.

using a TREC 1-4 contract so hard to scam there.  

It costs the same thing to fix a hot water heater or remodel a bathroom on a $200K house as a $100K house.