Not what I wanted to hear but what I suspected to be the case...the repairs in this case definitely don't equal the purchase price...and I do max out the funds which will qualify for capital gains so the repairs will have to come from post-tax savings.From the little I researched it does look like an incentive geared more towards larger investors and I suspect will squeeze the opportunity out of these zones for the little players...I'm not even sure what make that census tract qualify since the market seem super hot as is...houses are back at 2007 prices yet get offers in less then a week.

And of course you've mentioned here that everyone else who rents from you thinks that this electrician-of-obviously-questionable-competence is God's gift to alternating current.A does not equal B does not equal C here.The windows...you can't rent a house with busted windows.

You’ll have a harder time competing in the Austin market with an FHA loan, and the properties you offer on will need to be in at least fair/good condition to pass FHA appraisal.

Think of it this way...in the Spring you have more buyers, but more competing listings.

You cant expect to compete at market rent if your unit is not in the same shape as the ones you are using to reference for market rate.

In my relative short time on BP, I've found it to be extremely useful and beneficial to set keyword search alerts for "Indianapolis" and you'll start to see who the main players in the Indianapolis market are and a good way to identify potential individuals you may want to further connect with.  

If you can not add value, why even try to compete? 

Now it makes total sense to me that my PM is competing for quality tenants - now I get it. 

@Armani Emon Any competent realtor will ask you for a proof of funds.

I do my own now but that's also because I'm interested in it and I compete against myself.