Because my issue is that since I bought the property this 15th they will be paying for may but I would like to have them start paying the rent for the month forward.

Remember, they can always refer themselves😊Now, make it a goal to call at least 5-10 of these people EVERY day and ask a MAX OF THREE off the list below of who they know that:Just inherited a homeHad a loved one pass awayIs behind on their mortgage or tax paymentsHas a relative that can’t take care of their house anymoreHas a house they’re having trouble sellingIs facing bankruptcyKnows a probate attorneyKnows a bankruptcy attorneyetcWhy only three off the list per contact?

You then look at what a $72K post-tax net return is relative to the initial amount of capital deployed and determine if that is a good enough return to justify the investment.

The issue is, that the house he bought to flip, I guess is in a "not so desirable" neighborhood in that market.  

Your only issue is that STR management is costly in Austin, up to 25 percent.

If you ever have any property management related questions I am always happy to help.

Typically lenders require an executed contract on a specific property, but several I work with closely issue loan commitments (fully underwritten conditional loan approval) in as little as 24 hours post receipt of a contract and required documentation.

I'm aware that K1's are usually accepted and viewed as ordinary income with 2-years returns, however I'm struggling to find a lender that can decipher the difference between a private investment that issues a K1 and a publicly traded stock such as Enterprise Products, Williams, or Energy Transfer Partners. 

I had the same issue a few years back and had to call 4-5x and finally got someone to put my account on the annual plan. 

I also have a wholesaling business (I wholesale a product - not related to real estate wholesaling) and was doing that prior to getting into real estate.