If you buy a hot water heater for the other unit, you can write off 100% because you have no personal use of that hot water heater. etc.

I stopped at the "right" part.You need to start interviewing PMs in Austin, getting a feel for prices to renovate(hvac, water heater, floors for material + labor, etc.).

A 3/2 in CA is a bargain for $300K while in our markets, $300K would get you a move in ready 4/2 on the water. 

Hi Joshua,To gain a clearer understanding of the overall condition of the home—including plumbing, electrical systems, HVAC, and the roof—and to identify any major issues such as asbestos, water damage, mold, foundation concerns, or wood-destroying insects, I strongly recommend having the prospective properties thoroughly inspected.

For many, it allows people to test the waters to see if they enjoy being a landlord. 

Talking through these things is what helps keep everyone calm, cool, and collected. 

Do you have central boiler for water and heat or individual units?

You made some really crappy stuff sound really cool.

ARV 900Total reno was 170k Appraisal $399.00 Shut off valves $95.75 paint $300.18 Commeercial enzyme cleaner $72.09 Water activation fee $51.38 shut off valves $38.52 Kilz restoration primer $275.66 Kilz restoration primer $150.33 Shower tile-Master.

There's no way I can keep the house above water with that rent let alone consider any positive cash flow...so I need them out!