Currently finalizing a deal for another property with a different individual investor where we will have the same payout model, but they will put up a bit more cash to cover all the admin work I have to do to set things up. 

A wholesaler in Pflugerville brought me a deal when their cash buyer fell through, and it ended up being a win-win.Digging Into Pre-Development Permits: Austin has a lot of new developments, and I’ve had success reaching out to property owners near upcoming projects.

If the rental income doesn’t sufficiently cover the debt payments by their standards, they’ll limit the loan amount, even if the property is worth more.You could try a few alternatives:•Look for lenders who specialize in commercial real estate and have more flexible DSCR requirements.

Talk to your insurance agent and be sure you're covered.

My assumption is that it still will be better to purchase in my name (better loan terms, ability to put 20% or less down, and I'm already pre-approved) and move to an LLC, but this seems like a steep cost of doing business.

I would offer it on a land contract to someone wanting to live there for around 1500 and small down payment or sub2 with a large down payment and monthly that would cover PITI.

I have been in construction/rehab/renovation most all of my life so I have that covered.  

Hi Owen- Most others have covered the specific areas to consider.

Hey Robert - Condos and apartments can be a solid entry point due to lower purchase prices and potentially lower maintenance responsibilities, especially if the HOA covers exterior upkeep.

It has sat empty for the last 20 years but the current owners have completely gutted it, have bids from contractors they're willing to share, cost estimates etc. and have had lots of inspections done and so much pre-work with the city and county to figure out what they can and can't do, so a solid plan is already in place.