I work in engagement marketing and deal with construction tradesmen all day, usually more custom type tradespersons with a lot of care and concern for their own work, which may glamorize it more than I realize.

The contract with the wholesaler also expires on Monday the 27th, so I have my concerns about this just being a stall tactic to get out of the contract.

Can you DIY projects and cost cuts? 

I want to know how is rental market in Austin area and my main concern is Property value went up recently and how it's coming along on rent and is there any opportunity for cash flow in austin marketThanks

It may be out of state, so you will have to determine if that is something you are willing to explore.It isn't always cut and dry as some suggest. 

Also concerning, I just looked at zillow post and the pictures are very grainy and unflattering, even though they should have access to the nicer photos (I have had these for years, see below)..I've also been getting lots of calls form companies wanting me to sell my house.

They push their offer without listening to the seller’s story, concerns, or goals.

This way you can cut the time substantially to get to ROI.  

I really wanted to convert the residence to a rental property, but everything I have heard about doing so in Cook County has been very concerning.

I’m just concerned of legality of basement unit and like you mentioned permitted status.