Purchase price: $109,000 Cash invested: $121,000 My first property to fix and flip.

Lots of opportunity in the outlying areas.

As a joint owner, only her share would receive a step-up, and you'd still owe capital gains tax on your portion based on the original purchase price. 

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

Their customer service is second to none and they've got more education and networking opportunities than any other company. 

I'm struggling finding a multi family home in a decent price range of $150-200k in Leander or north Austin, TX area.

So it's just extremely unlikely that you'll be able to generate a return that would justify paying the taxes in 1 or offsetting the interest you'd pay in 3.If you save up and buy a traditional LTR at or above the median price, you'll likely be break even or negative. 

Median sales price is down 4.5% to $210K. 

It’s hard to say which is better as it depends on price point and how much renovations you are okay with.

Exterior paint/siding can range in price but doing exterior work transforms the look of the house before buyers/renters step inside.