A quick glance at housing affordability in AustinMedian Household Income App (Forbes): $73,493 ($6,124/mos)Cost of Living (Forbes): 15% above nat'l avgMedian Home Cost (SFR-ABOR Stats): $302,250Assume 5% Down Payment Conventional Loan- 30 year amortization- $15,112.50 down pmt + any closing costs• Percentage of residents with less than $1,000 saved: 56%• https://www.gobankingrates.com/…/…/americans-savings-state/…- $287,137.50 amt financed- 4.375% interest rateHow the payment looks:PI= $1,433 mosIns= $105 mosTaxes= $458.33 mos (Assume $5,500/yr)HOA= $25 mos$2,021.3/mos PITIDTI’sHousing ratio= app 33% @ median income ($2021/$6124)FHA should be at 31% or less with Conv/VA/FHA being around the same although all have exceptions in placeTotal DTIThese hover between high 30%’s to manually underwritten total DTI’s in the 50’s or higher depending on the programs@ 45% Total DTI Ratio and assuming the above PITI pmt that gives a borrower approximately $734 per month in all other creditor debt (cars/cc/personal loans/etc)These numbers are not perfect but are rather a quick illustration of current housing affordability in Austin for Retail Buyers.Summary: Housing is becoming less and less affordable in the COA for end retail buyersAssuming increases in property taxes/insurance/interest rates on the horizon how does this affect us as investors?

We recently experienced this exact scenario...the landlord hadn’t raised rents in almost 30 years and the tenants had heat/hot water included!  

Furnaces/ hot water heaters appear to be pretty newer, outside condenser units are 50/50 newer/ older.Some updates to units, only 1 washing machine in all 8 units!

If it was a hot stock, you would have already liquated your position.   

Many people do end up breaking this rule in hot markets so they can aquire a place or just because they purely speculate on rising values@Beau Fannon I agree, most people I've seen posting don't take into account all expenses related to a property.

While at work, my tenant called me about 11 times today because her hot water went out. 

Rentals have been a hot market with tons of amateurs and major investors jumping on board.

Regardless in this hot real estate market I think there's practically a market for any residential rental out there.

Get lawn cut, bushes and tree limbs trimmedFresh smellSpend rehab money where you get the biggest bang (i.e. bathrooms, kitchen, paint, flooring, fixtures, etc) vs roof, condenser, hot water heater, etc (assuming they are in at least okay condition to the untrained eye)

Not a hot market for Airbnb’s.