Even with a crawlspace and floor vents, you need to put the returns where they have to be....

Everything below that price point is being snapped up as cash buys by investors right now.My area is expensive and I haven't borrowed for a resi purchase mortgage since 2007, but my guess is unless lenders are subsidized in some way to receive their minimum origination fees per file, they will continue to have floors of $100k or $150k. 

Main issue with this property is that the previous owner had died and was a hoarder so four 30 yard dumpsters later she was ready for some flooring and paint.

Because of its location, I cannot have two proper units, but can have a main unit and an ADU or rent as one house (although I'm hoping the new development will bring a change to my zoning code) The basement has 8ft ceilings and is completely finished but I'm thinking of digging down behind the rear wall to add a full bedroom and reconfiguring the floor plan to accommodate another room, kitchen, and door to walkout (2 bed/1bath unit).

The land has a concrete driveway, power, septic, a small homesite with a camper parked on it.

I have no idea how these things are getting in, they are in a 2nd floor wall in a townhouse in the city, there aren't huge fields nearby. 

You can still find fairly easy cashflow in the Austin suburbs, but you'll most likely need to factor in basic repairs and paint and flooring into your calculations.

For example, if you are estimating that your total rehab budget is $50K and you've budgeted $3K for flooring, but your actual floor budget is $5K, then you're going to have to cover that from a different portion of the budget.

When we took it over, we gutted the kitchen and bathroom (gutted = new floor, new cabinets, new appliances, new electrical and had to repair some subfloor from a leak we found).

When we took it over, we gutted the kitchen and bathroom (gutted = new floor, new cabinets, new appliances, new electrical and had to repair some subfloor from a leak we found).