Common and standard note terms. 

It is very common in this industry since there is a lack of regulations on business purpose loans. 

This is very common with local banks and credit unions - they dont have the infrastructure or volume to sell into the secondary market and simply choose not to offer those products in their business model. 

I am told that foundation problems are common in this part of Austin.

The most common reasons I come across are: the owner died, can't find heirs.

Any advice on this would be extremely appreciated!

I've personally done 60 deals in Detroit this year and I've seen monthly property taxes anywhere from $20/mo (extremely rare) to $350/month.

Seems a little extreme.  

Quote from @Kar Sun: My tenant's lease is coming to a close and I am relieved she will be moving soon.She has been paying on time but has been extremely unpleasant and rude.While the money does not smell my mental sanity is more important than money in this case.She sent me a registered letter stating that she feels "unsafe because we have not done the fixes the way she wanted it".She requests to have her witness for a walkthrough.In my state a walkthrough is required but I am not about to grant it to her to bring any witnesses as that is not in my contract.If she feels unsafe she does not have t be present.I also do not treat a final walkthrough with a tenant as a final sign off.This walkthrough does not include a detailed inspection of the plumbing and the appliances that will be done after she departs.This is simply for the visible cosmetic issues and should take less than 1 hr.  

This can be cap ex to the building's common elements or cosmetic like a new lobby that you as a landlord may not view as a worthwhile investment but the owner occupants may.