Is it something that one could reasonably expect to continue, or is it temporary?

If his finances are not involved in the project, then he doesn't risk anything while you are risking your savings, so think about how you can decrease this risk.

Another had an eviction over ten years ago and as a result now prioritizes rent, and another had an eviction due to a temporary situation and an unreasonable landlord (I know him; he actually gave her a good reference).I have properties in C-/D+ neighborhoods; Policies that allow me to work with tenants when they can't pay all the rent and still limit my losses keep my places full but I would rather wait for someone with a good solid work history and adequate income.

However, inventory remains incredibly tight, with only 1.7 months of inventory in Austin and 2.4 months in the greater Austin area (a balanced market is 6.5 months).Steve Crorey, 2018 president of the Austin Board of REALTORS®, said, "In the Austin-Round Rock MSA, price classes across the board are seeing an increase in demand with a decrease in inventory. 

Think about a few things when considering investing in upcoming cities 1) Current or future infrastructure projects 2) population shifts over the past 3-5 years and projected population increase/decreases 3) research the area on municipal websites, blogs etc see what people are saying about the area and what local governments plans are.

Brian you will likely need a 'temporary' Co.

I have had temporary business cards made.

But then I refinance for $120,000 which would free up approximately $55,000 which is great, but then decrease my cash flow to only around $250/month after refinance.

I ended up suspending the architectural committee for a time and implemented a temporary review process by which our HOA attorneys review any applications and offered opinions based on our covenants.

You can do this through increasing rent, or decreasing expenses.