Here's an old article that kind of touches on my ideas on it all-https://www.biggerpockets.com/renewsblog/2016/02/2...But as far as the negative cash flow situation, there are very few situations where I think I'd be okay with that.

Do you mind me asking what kind of investing you are doing in Austin/elsewhere?

I use microwave and small-bag popcorn, Kind bars, a few nice wrapped chocolates and 2 small bottles of water.

Is that a kind of set up where you fund the property purchase and pay for the reno and they do all the work for you?

Perhaps you can see some kind of violation to report to the city as well if they have damaged the property exterior or have a broken down care or trash build up outside.And for your own sanity invest in good headphones until they are out.

If I can ask you a few questions about it, I wanted to know what kind of terms they offer, ie: fixed or variable, LTV% and how long the HELOC is good for/open for?

That's interesting, thanks for sharing.What kind of investment did that take? 

I feel when tenant is kind of too demanding and requesting at beginning is better to quit to work with them right the way.

Don't do carpetsDon't do dishwashersFor rentals unless they're premium units I prefer "builder grade appliances"I won't touch an AC unit.... but if it's required you can get them cheaper than what you have quoted.I would do the roof myself and save the $$ but that's only if you like to do that kind of work.Personally I take 5% of each monthly rent and put it into an account that I eventually use to spend on small expenses that require maintenance.

Depreciation for property 3 would be non existent- however the depreciation would be offset since the sale prices of the other houses are higherThis is my first real post so be kind.