If you have deep pockets, I think Austin will eventually reward you, but if you are a newbie in real estate looking to cash flow positive day one or shortly thereafter, Austin is probably not your best bet in TEXAS.  

The key is to zero in on one market and really dive deep into understanding it.

There is a ton of areas so I would start with where you are located at, within a 30 min drive

Your investment is secured by the underlying property. preREO is a new, very creative and now proven format for local real estate investors to obtain control of a property before it goes to REO where everyone will have access to bid and drive up the price.

This limited inventory will likely continue to drive prices upward.Sales - Median $/SF by MonthThe $/SF decreased slightly MoM, conforming to the seasonal trend.

Yes, the bi-yearly nit picky inspections can drive me crazy, (torn screen , etc) but in the long run it’s worth it.

Drive around and figure out a few areas you would like to live in with your budget.

It ended up okay, but it sure taught her to slow down and get comfortable digging deep into the due diligence.Here in San Diego, I’ve seen the seasoned investors always double-check with a well-regarded local title attorney..I’ve heard there are a few firms around downtown that specialize in smoothing out odball title issues..or a trusted property manager who knows what unique fees to expect.

The biggest thing is vetting the operator as they ultimately drive the returns.

You need to understand how to drive the Net Operating Income to produce a good solid return.