If you are purely doing it for investment purposes, it might be wise to consider not living in the unit so you don't need to divide everything up.

Running the numbers thoroughly will give you confidence that you’re making a wise investment.Leverage Local Knowledge: Partner with a real estate agent or broker who specializes in multi-family properties in Austin.

Tax wise what happens on their part with this situation?

Engaging with residential buyers first is a wise approach before exploring investor options.

If you switch later, that is another set of problems.When entering a transaction is easy, but trying to balance, analysis reports is a challenge - Now is the time you need to take an accounting course - learn debits and credits and more.Pick and choose wisely.

@John Pettas STOP being penny-wise, but dollar-foolish and invest time in finding a great PMC!

Have a few STR's myself and do well cash flow-wise as well as an LTR that is more for equity.

The institutional managers were wise to study history and see what will happen when we printed alot more money then we did back then. 

Be wise.

In addition to a walk through a home inspection might also be a wise move, because it gives you a written report of the problems that the inspector finds.