We would like to start investing soon but we are working on building our credit and paying down debt first.

We are 11 days into escrow now and no red flags so far.

how do I calculate if its a good investment when we are trying to buy a duplex, while living in one unit and renting out the other unit. 

We currently have three sets per bed however since we are washing them off site it backs up sometimes if we are hosting back to back. 

We are looking to purchase an old home from the 50's in the Zilker area in Austin to tear it down and rebuild 2-3 homes on this large lot.

Just be aware that lenders in general don't like real estate agents as we are considered risky.

We are going to live in it, rehab it, airbnb it temporarily then move on to our 3rd property roughly 2 years down the road.

I like your answer your in it for the money  LOL.. you are being truthful and we are all in this business for the money..  

So we are very excited about that.

We are under contract for a third property at 110k which will require 3k in repairs for it to be rent ready and it will rent for $1100 a month.The idea that we are throwing around to not come out of pocket for the third property is to take a commercial loan from a local bank with 80% financing at a rate of 4.9% 5 year term/25 year am.