My realtor/PM says $0.95 to $1.05 per sq. ft. is a reasonable monthly rent for a 4 BR/2 BA property in that area, which (according to the BiggerPockets calculator estimate I did) is enough to cover the monthly payment plus the above costs I mentioned.I anticipate putting down my deposit and earnest money in the next few days. 

The listing broker is going to try and sell you on paying a price that makes sense given the projected or proforma rental income, a dynamic that is the equivalent of how the listing agent on a SFR might try to sell you on paying a price that bakes in future/anticipated appreciation, or "look at this home's potential!" 

Your detailed explanations of the potential options are very helpful - my first time at a bank foreclosure auction and as I am going through the process I try to anticipate what all might be coming my way and prepare as best as I can.

Right now with the feasibility study We're anticipating about $4,000 for the SFH and $2,200/mo/unit on the ADUs, totaling about $10,600/mo in rent revenue so the initial rents look great.However, I don't know how the loan will play out.

It was also nice to meet the team I'd be interacting with throughout the process.

Because I have cash to close; because I ALWAYS protect their commission/fee, and because I alway do what I say.To earn the kind of numbers the OP is anticipating takes ALL of the following1.

So I'd rather it be a harder 2-3 month process on the initial start, then a drawn out 1 year process on the way out.Austin, and mainly the greater Austin, is building out faster than anticipated but this was always going to be the case here.

On an annualized basis through 2025 and 2026, asking and effective rents are anticipated to climb by 3.7% and 3.8%, respectively, to finish 2026 at $14.35 and $13.88.

You could use 75% of the anticipated rents to offset his debt but it may or may not work to help him qualify.

Again, the BiggerPockets store has some books for this or you can learn by watching podcasts, reading blogs, and interacting on the forum.