You could also consider doing some value-add projects (if you have time/know how) to build even more equity if your specific neighborhood supports higher values for the improvements.You said that you like the idea of owning multiple investments and having the option to sell some down the road.Is it an option for you to stay where you're at and simply build a portfolio of other rentals in the area?

If the pluming is working and there are no leaks in the roof then I don't replace them.

We develop, build, and manage Class B multifamily projects in rural southeast US—12-200 properties in places like rural Georgia or Alabama.

I did not find them via Bigger Pockets but rather through another investor, who had them quote on project for them. 

We built a single family home version of a 2 bed 1 bath with surface parking at cost with no profit all in with land for 175k in newark ohio, a suburb of columbus ohio. when we push that to 3 units and closer to the city for our build to rent model the numbers go way better. a 30k slab for a single family home is 30k, a 30k slab for a triplex is 10k a door. we designed a 2 bed 1 bath design at 668 sq ft and it's very good layout even I would live there, but I would never build anything that small again. there's no economies of scale. you need density and shared lines, resources, shared roof shared slab, shared windows, etc the cost goes way down.

Honestly if you are doing STR I would suggest doing Austin itself rather than all the way out there in Kyle - maybe a couple of years ago when the prices were through the roof in Austin city itself this would be a good alternative but there is a blip right now where you can get a god entry point in Austin (downtown/east ideally) for STR

Hey Andrew: The Freddie Mac Small Balance Loan (SBL) and Fannie Mae Small Loan multifamily programs could be a good fit for a project like this.

Just to clarify, when I say timeline dates I don't mean just "project to be completed by (Date)"That's required by FHA/Lender, but in my 20 years of construction experience not nearly what you need haha. 

I am about to do one of my first ground up construction projects with the intent to rent in the area of Athens a little further west. 

The most successful investors systemize and delegate.How to Let Go (Without Losing Control)🔹 Automate – Use rent collection software, project management tools, and automated messaging for tenants.🔹 Delegate – If you’re spending hours on tasks that someone else can do for $20 an hour, it’s time to outsource.