For the 10 year period spanning November 2014-2024, single-family prices in Austin nearly doubled, yielding an annualized appreciation rate of ~9% in that period.With inflation nearing its 2% target and signs of a slowing labor market, The Federal Reserve recently made its third cut to the federal funds rate since the start of the COVID pandemic.

Those two alone may run your deal over. 

If you are going to invest in class C I strongly recommend you physically go visit the property and the area with your own two eyes.

However, I haven't had a single application submitted for over two weeks.

The two times I did it both were parents of the renter, with property.

I implore you to do one of two things...1) find a partner that's been there, done that, and bought the tee-shirt so you can learn the ropes with someone who knows the pitfalls or, 2) start with a single-family or duplex with the guidance of someone that knows what they are doing.

Then a bank will lend on the two as if they were one and that will result in a higher lending amount.

This is the third time someone has tried to replicate the exact forum post in this same General Real Estate Investing group that already has 99 replies.https://www.biggerpockets.com/forums/48/topics/1220392-what-...

I've done it for two different properties and happy I didn't go FHA for that reason- although everyone's circumstances are different.

I own two mobile home parks and several on their own land.  30 total.