I want to know how is rental market in Austin area and my main concern is Property value went up recently and how it's coming along on rent and is there any opportunity for cash flow in austin marketThanks

(It could take 8 years to get to today’s market rent, if market rent didn’t increase $1 during those 8 years.  

I have a few commercial bank contacts, but concerned they may just cut me out of the deal.

After a year at staring at insurance data daily, AZ insurance rates are only increasing marginally, while most states are damn near doubling.3.

Recently I got a huge increase also.

If they do, you may have a chance under the scenario you're proposing - if they share your concern for it's condition (although that seems unlikely since they've been living with it the way it is for some time, it seems).If you own it, it's pretty lowbrow to expect a neighbor to invest in your property. 

If have investment property, we are looking for relatively updated units (we are ok doing some work ourselves), class C+/B tenants, with rents either close to market rate or that can be increased.

This implies if you sold and bought the exact same house your current property tax would increase substantially.  

It does beat the expected inflation rate of 2% set by the Fed.Rents will remain about the sameWhat’s interesting is they also expect:A 11.7% increase in existing home inventory followed by Single-family new home starts growing at an impressive 13.8%. 

My concern was that it was too far from the heart of San Antonio.