I am working on these to see if theres is any way to approve them but I am wondering if my minimum requirements are too high for this area or if I should stick with it.

The main reasin is for a better clearance of liability. with you editing a signed contract, that has a high Probability of letting a tenant be able to void the contract and it actually happening.

If you do not report these earnings to the IRS, you can incur IRS penalties as high as $580 – for each worker ($290 for not sending it to the IRS + $290 for not sending it to the contractor)!

One fast way to generate cash flow is to invest in high cash flow, low appreciation markets (say several midwest e.g.

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

There is a very high demand for S8 properties so filling it with someone is not a problem.  

Also any tips for automating this as much as possible and how to protect the property financially and property management would be appreciated.I ALMOST understand the rental arbitrage strategy if building a company scaling with say 30 + units and looking for high short term cash flow.  

Costs will seem high relative to the loan amount on these smaller loans, $5-6k in lender fees isn't uncommon. 

We’re really best suited for those high income earners out there with strong investment experience and cash positions to literally take the reigns and create a strong cash flow product and tax write off for them with minimal time spent on their part.

Now, if you listen carefully you will find that he too found some of the same things that others mentioned...no deals in Austin, prices were too high...but then he adjusted his approach and nailed it!