WFH and hybrid are probably a large driver. 

I think the biggest value driver is entitlement not buying and selling land. 

Some investors look strictly for cashflow but do not care about other things like if a growing population or drivers in the market.Build a core four in both markets and hunt from there.

LL pays any repairs to RTUs over $5,000.Tenant credit and experience, number of tenants, demand drivers for submarket, growth patterns in market, tenant sales (if these are more service medical providers like dentist or chiropractor) and this is being used more as a service center than back office work.As for basic numbers, I would not call what you outlined as a terrible deal.

and get the work done yourself.If the seller is willing to handle enough issues by way of a credit versus an actual repair, don't get wrapped up in the details - you're still getting what you want but you are now in the driver seat of who does the repairs.

For the 10 year period spanning May 2014 through May 2024, single-family prices in Austin nearly doubled, yielding an annualized appreciation rate of ~9.2% in that period.A 30-year fixed rate mortgage is sitting around 7% interest, which is down a bit from recent months, but still well above where we began 2024:The Fed monetary policy and rate decisions remain the biggest single driver of the residential real estate market overall.

I think one place to consider is Sherman/Denison area.Lots of growth coming that way.It's about 45 minutes north of the main DFW Metroplex, but plenty of people commute and there are plenty of demand drivers there.

Primary driver that Spring to July are hottest time?

Property being previously self managed is likely a large driver of low Op.Ex

Just like an UBER driver is a taxi driver.