I know that there is value in it but there is an unknown to how much rehab would cost  and I’m also not familiar with this town’s market. 

I agree woth Marcin Zajac the spread is minimal especially with the unknowns.

@Joshuah MurrayThere is a lot of unknowns here, but working off the premise that this is a good deal you have quite a few options (make sure to do all of your due-diligence). 1.

I’m faced with potentially exchanging a very good thing for something with a lot of unknowns. 

Or, avoid the unknown of possible pitfalls and further unseen damage that we'd be taking on, and save the capital for another investment? 

I just feel as if there is a lot of unknowns in this situation.

While I do think that Austin will continue to grow rapidly for the next few decades I think there are just too many unknowns to account for.

We find scheduling everyone (unknown to them) at the same time for viewing a rental, does the trick... 3,6,10 people looking at a house will get people pulling our agents aside offering to pay higher rents if they get the house. 

I guess its very much case by case, but I try to be consistent and this applicant had too many unknowns.

I've never had a tenant willing to do that.The other option is that he is telling me the truth and he was deported, and an unknown person was living in the house.