Not legal or accounting advice but when someone says that it would Make me nervous about type of work they do as if they cut corners that way what other ways they cutting corners

I’ve worked the probate and trust section of real estate for many decades and concluded years ago that it’s easiest to think of probate as mostly a title issue. 

Using the BP mortgage calculator, I plugged in the same numbers $100k, 15 years, 7% and put a zero in the insurance and taxes section.

You have another three years to sell and still meet the requirements to exclude gains under Section 121.If you decide to hold the property and relax with a continued market appreciation and cash flow, three years of future appreciation is a gain that can be excluded when you sell within that time window.Because of Austin's powerful appreciation and positive cash flow, it might be better to hold the property long-term.

The legit sponsors should want the crooks and anyone who cuts corners out of the industry - even if that means the most egregious go to jail.  

So- read the zoning and land use sections of the code.

But, you don't have to be my age to study the negative effects of rent control, eviction moratoriums, forced section 8, etc.. 

Yep, exactly what I see all gurus pushing: Class C/D properties, section 8 "guaranteed" rent, etc. 

I have never dealt with Section 8 in my normal course of business.

On your other two points - The ARV is from recent comps in the area in the last 6 monthsThe rent is also very good/decent in the area (from Section 8 tenants) - approx $250/month of cash flow when you remove the mortgage etc.