I may have an unpopular opinion for Austin Market but i think hype is going down and things are settling down still not to pre pandemic levels, probably wont happen due to influx of people that moved in.My understanding is more people will move out than move in to Austin next few years but that is with in circles i know not necessarily representation of austin market. 

They do exist.

If one or more units are vacant, the remaining units often don’t provide enough cash flow to cover expenses, making it harder to meet operating costs.Maintenance costs: A fourplex comes with four times the appliances, plumbing, HVAC systems, and other components to maintain, leading to significantly higher repair and maintenance expenses than single-family homes.If you want to see the detailed calculation, read this BP blog - More Units Doesn’t Mean More Money—Why a Single-Family Home Can Beat a Fourplex.Resale value: Multi-family properties have a limited buyer pool—mainly investors—who base their offers on CAP rates.

Highlights:* no prepay on 12 mo bridge* 6 months guaranteed interest on a 24 month bridgeThese are interest only loans and the DSCR calculation isn’t a factor in the lending decision.Compare the cost of your lower interest rate DSCR loan, including PPP versus what the bridge would cost at a higher interest rate and no or minimal PPP.PPP=pre payment penalty :)

If you do outsource, some management companies will cover various things like cleaning, supplies, etc. so look into that as well. 

They managed to cover the mortgage and still had a comfortable place for family vacations.

It varies, but when retainage exists that will drive up the cash to continue to advance the project because borrower won't be receiving draw releases equal to their outlay. 

My thoughts are to do an addendum (but not sure how to word it since she will have pre-paid her part until may) and let them figure out the security deposit between themselves at the end of the lease.

Home was nice 4 Bed 3Bth under $550K with a decent size lot/yard and it only required 5% down as a New primary.Now I am not sure how big of a home you need but as you can see $100K covers much more in a scenario like that one above. 

Some of the best BRRRR deals I have seen play out this way:You buy a home cheap enough that when you do a renovation and pull out 75-80% LTV, your rent covers your mortgage and you have returned most of your investmentThis is for A-B class areas.