Based on Noi/Piti derived from the 30 year amortization?

Is this a perpetual income play?

I understand the low value land plays in both owning selling CFD etc etc  No title insurance just quit claim.. its quite common in the Niche you are playing in.. the issue is if the orignal seller buggars the title somehow and you CFD buyer pays all their payments and now wants clear title and you cant deliver it because of this.. 

I have played with the idea of putting an off grid tinyhouse on the property to see how it does and grow (or not) from there..

Markets are like playing fields. 

It is all based on the contacts and experience that you have to make your investment a success.

(see graphic) I don't expect the next two years you will see much rent growth in Austin.In the many cities in which we've invested, we have seen this supply / demand interaction play out in cycles.

@Sam ChicquenSam, little late to this but I’m an investor/agent based out of Tampa Florida.I like Tampa and the surrounding markets for its cash flow and appreciation potential.There are still a ton of mom and pop investors that own commercial multi (5+) and I’ve had some good luck connecting with these owners and purchasing from them.The last deal I did was a commercial off-market value-add multifamily and was able to secure seller financing.Downside is flood insurance has gone crazy down here and can really kill some deals.Happy to help you with your search.

Based on your list of wants (I like that you are clear about this), I reccomend either investing in a note fund (@Chris Seveney's allows you to be non-accredited) or finding an asset manager to manage your note portfolio for you. 

@Nathan Pethers recommend you use the BiggerPockets Agent & PMC lookup features since +95% of agents CLAIM they can work with an investor, but actually only know how to do owner-occupied transactions.Your PMC and agent should work together, on your behalf so make sure they play nice:)