If you're going the umbrella insurance route, perhaps see if it will cover you for several things including just the routine slip and fall (like mold or earthquake).

there are numerous commercial RE options such as storage units, mobile home parks, industrial, office, NNN, etc.  

It is zoned multi-family and I could do 14 or 15 straight townhouses but the City in question, while they immediately adopted the latest ADU rules, has archaic multi-family land-use regulations centered on a large apartment complex mentality that are costly for infill / middle housing  (1.75 off-street parking spaces per unit, major landscaping requirements, "amenity" requirements, unreasonably large setbacks, etc.). 

Currently the 300K is parked in SWVXX, so similar yield to a high yield account and frankly in the current interest rate environment the cash flow is not far off from my rentals. 

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

New developments in Manor, East Austin, Georgetown, Plufgerville, Cedar Park, Buda and Kyle are seeing new luxury devleopments that offer a luxury lifestyle without the excessive rental pricing you'd see near downtown Austin. 

Quote from @Arkadiy Iliyayev: Thanks for the reply Jake, I really appreciate itIf you cut Brownsville in four pieces using the interstate to divide east and west and Ruben Torres to divide north and south, you'd be safe buying basically anything north of Ruben Torres with the notable exception of Cameron Park.

Build routines (no different than dieting, working out, etc.)5.

Most people are happiest with a daily routine surrounded by intelligent peers doing something both gratifying and remunerative.

As @Jason Park mentioned, definitely avoid wonky layouts or adding a tiny bedroom just for the sake of bedroom count, as these can actually make your property significantly harder to rent to prospective residents.Code Requirements.