On market & negotiated price based on condition How did you finance this deal?

There is still strong demand for Austin housing with pending sales in the metro up 16% compared to last year (and up nearly 30% in Austin).

The Cape also in my opinion is oversaturated with STR's so it's challenging to find a base number of how your property will perform. 

Not sure where your research came from but what I was basing my perspective on, was from a professional working knowledge of being on the ground observing.

Based on my extensive research, the data suggests the following success and failure rates nationwide:Success Rate: 70-80% for experienced investors, 50-60% for beginners.Failure Rate: 20-30% overall, with 10-15% leading to significant losses.I’m eager to hear insights from any BP members who would like to share their thoughts.

They will tailor a program for you, based on their success with similar businesses.  

Is there strong demand for rentals and is it potentially possible to rent a room for 1500-2000 depending on the location (slightly cheaper than a studio from what I've been seeing which is how I priced my rooms in AZ)?

Look for properties with low taxes, separate utilities, strong demand, and potential for rent increases.

However, a larger home may consider another can or two in certain locations based on proximity to the kitchen or bathroom.

Quote from @Efrain Flores: Quote from @Tim Delaney: Based on rent of $1500-1600 and mortgage payment of $1700-1800 which doesn’t even include maintenance, management or capex it doesn’t seem to make any sense to keep it as a rental.