I thought my wet basement could be solved with a new sump system but the water continues to appear whenever there's a thaw (still have at least 36" of snow up here--BPers in warmer climates don't get too jealous) so I'll have to do a dig around the foundation to install a membrane around the perimeter once the weather improves.

Also, I have not considered other factors that can greatly affect your real return like climate (maintenance), construction, property age, local regulations, eviction cost and time, etc.Market Changes"The only constant in life is change."

For example businesses closing or moving out of a market due to the locations business climate. 

If you are purchasing in a cold climate this can be a big issue.Sewer line: I suggest you pay the couple hundred bucks to run a camera down the sewer line and see what kind of shape it's in.

Over the last 6-7 years, Austin has posted consistent job growth (3-4% TTM job growth is some of the best in the nation), outstanding population in-migration (I've read something like 150 people a day are moving to Austin), good civic leadership, a very aggressive economic development corporation here which is actively recruiting companies here (see the RECA site and Opportunity Austin 3.0 for more details via the Austin Chamber of Commerce), and some excellent structural advantages (i.e. flagship UT 50,000 + students, temperate climate, relatively low cost of living, music culture, etc.).  

I know deals are hard to come by in the present climate and I’m curious what locals think has better opportunity at the moment - house hacking small multi family units (or SFH with an ADU) vs live in rehab for SFR?  

Twitter (aka X) has more valuable and truthful insight than any "news" corporation (btw ALL of which are owned by just a handful of conglomerate companies).Here is how all of these agendas will affect Real Estate, ownership and investing over the next 5 and 10 years:Agenda 21/2030: For more than 20 years, the United Nations has been slowly implementing a plan with global governments to gain more control and consolidation of ALL resources around the world, which includes restricting individual property rights and redistributing wealth from developed to developing nations in the name of questionable climate change "crisis". 

Are you trying to climate control the little "room"?

In today's climate foreclosures are taking a years to initiate.

I wouldn't want to lock up a rental rate for more than a year and especially in this market climate.