The September 2024 report from the Austin Board of REALTORS® (ABoR) shows housing prices in Austin and the greater metro remained fairly stable over the past 12 months.

To do this, divide the cost based on the ratio of the fair market value (FMV) of each asset to the total FMV of the entire property at the time of purchase.If you are uncertain about the FMVs of the land and the buildings, you can alternatively allocate the cost based on their assessed values for property tax purposes.Source: IRS Publication 527 (Residential Rental Property)

if something is just sitting on the MLS looking too good to be true... then it's too good to be true.these properties are going to have higher costs overall, be in more challenging neighborhoods, have very gnarly deferred maintenance and capex, potentially have liens, be high turnover, and require expert, highly knowledgeable, localized support to be successful. see for example this thread.https://www.biggerpockets.com/forums/48/topics/1137397-balti...and even at those price points, i think cash flow is fairly low to non-existent if rehabbed to a high grade, especially with DSCR debt. 

While they are good communicators, experienced with Section 8, and their software for rent collection is solid, we're increasingly concerned about a few key issues and would appreciate input from anyone with similar experiences:Turnover Fees Transparency:The turnover fees seem high, and despite our requests for itemized breakdowns and man-hours to justify these costs, we feel they may be taking advantage of our out-of-state position.

With the college close by I figured demand would be fairly good.You said it's more of a challenging market and it's clicky, is that in regards to finding and keeping tenants happy when it comes to multiple personalities?

Helens now to be fair he is quite brilliant at construction owns a HUGE underground construction company that he sold to his employees  and loves these type of off the main stream projects and has put many hours into it.. and not made a dime LOL.. he donated one of the fully built homes to the local collage..

I can recommend some good cost seg guys to help you maximize those deductions.Be sure to communicate this information to your accountant as well, so they can help you plan and be aware of the situation.

FL appreciation - property is still fairly newish and don't want to miss out on potentially solid capital appreciation in next 5-10 years - assuming that happens-Other caveat is ability to sell in coming few months without paying any capital gains taxes, which will not always be the caseThere is no crystal ball, Appreciation is/was the goal but who knows if that will happen and at what rate realistically with increasing costs of ownership here.

You communicate with your tenants!

The property is important to us, and the numbers mustshow the deal will produce a fair profit, but as direct lenders (i.e., we lend our own money) we always bet on the borrower first.