In my opinion this doesn’t do compare in quality with the 3/2 homes that are selling at 150/ft

I think our industry needs a set of KPI's (Key Performance Indicators) of its own; asking ourselves "what are the most important items we need to track so we are as successful as we can be" and use these numbers as a benchmark for performance, comparing them with like minded owner/operators.   

It also has a future growth forecasts that was very high compared.

The cost of hiring decent crew that shows up on time, and completes the work quickly is really high compared to what you are likely used to in Austin.3. 

Feel free to message me and we can compare notes.Are you considering any other markets?

My thinking is that if it is a good deal if I'm not living in it, then I'll be paying a minimal amount to live there compared to buying a single-family or renting an apartment.

The landlord has been charging  approximately a much lower rent than that of comparable properties in the area.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

In your case, you could "reward" the tenant by telling her you want the home on a one-year lease but will leave the rent at $2,450 which is a $3,000 discount for her.

How is the location of this property in the market compared to the competitors?