Real estate investing works out best when treated with a crockpot approach instead of microwave. 

If you can rent it out, get it rented out, get a year lease, then start approaching commercial lenders for either a DSCR loan or a 2nd mortgage, with cash out. 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I’d love to hear your thoughts on whether this approach makes sense or if there are other strategies you’d recommend to optimize profitability. 

This brings me to now, I've taken this approach and have used my own money in lending, but am also bringing in friends and family to take part in these transactions so they can earn way better returns than with CD's.

My dad used to manage other people's properties but eventually quit because the money wasn't worth it and he always ended up prioritizing their properties so as not to get any hassle from them.Another way to approach this might be to go all in on one project yourself and see how far that money gets you. 

This is a numbers game so you may have to take an aggressive approach towards negotiating several deals before one of them actually works out.

I've worked with many investors that take this approach.

Our approach enabled Carol to focus on executing the project without financial constraints.

Now, if you listen carefully you will find that he too found some of the same things that others mentioned...no deals in Austin, prices were too high...but then he adjusted his approach and nailed it!