@Chad Carrodus - I thought about it, but I feel that with a full-time job, I will not be able to be present for multiple tenants and do not want to make my ROI profits slimmer by hiring a Property Management company.

Margins are getting slimmer and slimmer.

So positive cash flow is slimmer than other cities but I feel there is no better place to maximize  your ROI than Austin.

Ive come to the conclusion that foreclosure auctions are more beneficial for fix and flips than for buy and hold strategies because you have to buy at a lot less to renovate and get good cash flow where as you can flip a property bought on slimmer margins and still profit.

Some of the more vocal investors in this thread either invest in vastly different properties, in a different type of neighborhood, for a different type of tenant, and at much slimmer cash flow margins. 

Why would anyone advise you to refinance and then let the person live there paying rent for 4months, you would end up holding this rehab for close to 7months before you'd be out of it.I think you may need to do your rehab calculations because from where I'm standing your profits are getting slimmer by the minute, 10% from 115,000 is 11,500(realtor fees and buyer closing costs),78k to hardmoney, 5k to banker thats only 20k left over and you havent subtracted rehab costs.What if the appraisal comes in low?

For too many years sinkhole claims were a much used and abused scam benefiting homeowners, engineering firms, repair companies, lawyers etc..By some remarkable coincidence, as the cost of coverage became more expensive, benefits became slimmer, and the economy improved, the amount of claims have fallen off dramatically. 

Especially in a slimmer margin new construction area like ATL.  

Unfortunately, deals to be found on the MLS are getting slimmer by the day.

Inevitably the good properties will survive on slimmer margins and flourish again as the bad properties are forced out of the market.