Personally I really don't care why anyone would sell no money down but I've done it in New York and I've done it in Deland which is just above Orlando the reasons are the reasons

Moreover, Did you provide felt pads and tell them how to care for the floor?

Since budget is tight, my partner feels that it's better to leave it as is and let the buyer take care of it.

That is a good question and anyone who is involved in real estate investing should know about the meaning of an "as is" clause.

Its a great place for cash flow and depending on your investment strategy there is a very wide range of types of investments.I have been working on the investment side of real estate for several years now and know the city very well when it comes to buy and holds.I own a few myself and have and have wholesaled and worked with a ton of buy and hold investors.You need to be careful of what you are really buy in SA though as what you are experiencing in Austin is happening here as well but mainly on in low-end properties.

It's not paying your bills or providing your with gas money (your cash flow does that...more on that in a second)...so if you have a use for that equity, meaning you can leverage it to gain MORE investment properties, then who cares what the fees are?  

Mine's over 800 and I couldn't care less.I agree the requirements to get a fannie loan are complete crap.  

I did have to have the contractor pull a permit and they took care of the plumbing and the gas connection and had to install a detector (smoke?

If you're going to flip it, tell them the vision for how you want to improve the units to get good families in there and take care of their former property the way it should be. 

I am more of an active investor that builds/flips for now because cap rates don't makes sense to me, so most of my experience comes from that side of REI, but I am very knowledgeable in all areas of REI.