Some of the best performing rental homes even have a heated pool for year round enjoyment. 

If you’re doing a full gut to make everything new you may be able to get away with a lower repair budget, but vacancy should typically be between 5-10%, and as was mentioned before, unless you have some incredible hookup your insurance is severely underestimated.

I can not afford in my local area so I have selected Austin round rock .

I never have to call and start a cleaning ticket, have utilities turned on for cleaning, worry about heat, etc. 2.

I assume everyone knows that it's virtually summer all year round so does the above bit of advice still apply?

The sellers, which in this case might be the children of the homeowner, may want to unload the property as quickly as possible, but homes as a result of an estate sale I always find to be ridiculously overpriced because the people are too emotionally tied to it and assign an unrealistic price that doesn't resonate with what the market is willing to pay for.It is probably best to walk away from this one rather than trying to force a square peg through a round hole.

@Rob Jones Hey, I saw a lot of round-trip conversations.

NumbersAppraised Value - $600KCurrent Private Loan Amount - $320KLate Fees/back payment: - $95KRequested loan amount - $130KTotal equity after sell - $280KTotal split after $130K payback - $150K/2 = $75KSo in total, for a two month loan of $130K my return is going to be $75K ~ 57%These are fairly round numbers, not including closing costs, but the gist is there. 

There is not a better deal out there if you can get away with 3.5-5% down on a multifamily.

Quarter-round trim cut to size in a power-miter saw.