Then the tenant will rant a bunch of nonsense, have no evidence to back up his stories, and the judge will find in your favor based on the evidence provided by you.For future tenants, I highly recommend you read a book like mine or "Every Landlord's Legal Guide" by NOLO.

Hey Meena - I am based in Austin as well.

You just discriminated against them based on family status.It's good to have a heart-to-heart talk with them about what they can afford and see what they want to do.

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

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.

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.

Leverage will be based on whether the land is entitled and borrower track record but 50-60% is the norm, not 80%.

I would pick a major tourist destination where it wasn't saturated with STR's already.That would take some research but you could google top vacation destinations and find a place you would go on vacation.

Where are you based out of? 

They already have a track record (good or bad) with you, so you can decide based on payment history, inspections, etc.