This just isn’t sustainable.  

Hey Tammy- it sounds like you have a great, sustainable plan.

Here are a few things to add to your due diligence checklist:1) Home inspection, just like on any other property you buy2) Additional inspections depending on age of property (like scoping the sewer lines, for example)3) Study STR regulations in your city to ensure this property is permitted for this use4) Interview 2-3 STR property managers to understand your income potential on this home5) Study competitor properties on Airbnb and look for what they are charging per night, how they are finished, how they are furnished, etc6) Consider your backup plans in the event your city starts cracking down on STRs and impacts the sustainability of this business for you

However, at their higher age, usually wealth protection/sustainment and income is MUCH more crucial then wealth generation. 

Working for free fir 10 months is not sustainable and not a draw.  

Before we consider purchasing the property we will to come up with a variety of scenario’s / business models that could work for our location and property and evaluate the probability of success, profitability, and sustainability for each.For the tenant class situation consider this property comparison: The property we are looking to purchase currently rents to low income tenants on weekly basis and is in fair condition.

My advice to you is to connect with the ones that resonate with you and take the time to develop a relationship with them. 

However, "less favorable" is relative, as we sustain a seller’s market year round in Austin.

The danger now is that with the market run-up, they are showing you huge return numbers that they cannot sustain.

The cashflow can be appealing, but I question the long term sustainability of some of those places.