Just because someone moves out of state means that his business is over.I normally suggest if you have an easy return, W-2 and a couple of brokerage accounts, go ahead and do your return with turbo-tax.

You’ve presented a straight forward question without providing any figures.

Wanted to connect w/ Austin investors and get a head start in our network there. 

Correct me if I am wrong, but this isnt the best deal (depends on your strategy) but a straight value-add long term hold the numbers don't pan out.  

However, it seems to only work for a QOF if it’s new construction or major rehab.I might just go ahead and consult with my attorney and my CPA about setting up a QOF now, so I’ll be ready to use it when the right property comes along.

@Jonathan R McLaughlin That is a super straight-forward response and will make my next evaluation pretty simple.

Due to their credit score I wouldn't rent to them, but if you decide to go ahead and rent to them I would ask them for last month's rent up front in addition to first month's rent and the security deposit. 

If it is then go ahead and determine if this is something you actually want to do. 

Thanks ahead of time for anyone willing to help. - Jason

If you really wanted the costs financed, that’s just some accounting (eg raise the purchase price and get a seller credit...)You might want to negotiate ahead of time what happens if there is a spill.