Yea the thing that was confusing was that the listed rentals on Zillow or Redfin had pretty big discrepancies in price while they appeared to me to be of similar quality. 

The Austin metro market is approaching that territory.Here are the full stats for Austin and the greater metro:On the rental front, a recent Redfin report placed Austin atop the list for the largest year-over-year decline in median rents among US metros:Appropriate rental pricing and high-quality marketing are vital to navigating the current leasing market effectively.

It can be a struggle to find those who offer adequate service, price, and quality.

Speaking from the Arizona perspective, we are experiencing continued growth, attracting lots of new residents (Californians choose Texas and Arizona as their top 2 places to move).Here's an economic forecast:https://www.azcentral.com/story/money/business/economy/2019/12/11/arizona-state-university-annual-economic-forecast-predicts-slower-growth/4398074002/Not sure where you are getting your "low rent" thoughts, maybe compared to CA.

As always, speak to a lawyer. 

Quality, experience, knowledge, track record of sponsor2.

Again I am not an attorney, but you should speak with one on this. 

I wouldn't use them to complete the job, they've already shown they aren't doing quality work.

They're shady builders with poor quality construction.

A nice but rental quality unit gets 1500-1650 regularly in that area depending on the size and finishes.