Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Without having much info, I would need to know the financial situation of the 'close family' to determine a best approach.

I’m curious to hear how others are approaching their 2025 planning.

Here’s how I built my network, the challenges I faced, and why I believe relationships are a cornerstone of real estate success.Finding My Support SystemWhen I first started in real estate, I was young, fresh out of college, and had just become a mom.

This fosters a top-down management approach that ensures accountability and efficiency throughout the property.As I've earned from my own experiences, the difference between a good operator and a poor one lies in effective asset management.

Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

The income based approach to valuation is only used for commercial properties, that’s 5 units and up for multifamily.  

Challenges?

The volatility of Austin's RE market also presents challenges.

I’d love to hear more about how you approach finding these under-$2M properties and what strategies you’re implementing for operations optimization.