I think if they lived here in the US you probably follows the rules like you said, it passes to you with a stepped up basis but if they died in another country all bets are off, I have no clue.  

Like many investors have said it is very hard to cash flow in Austin anymore and your best bet is to get your return from the appreciation.Just 90 miles south you have San Antonio.

Cool adventure bet the kids loved it.

I also recommend that the day-to-day management be done by the 'general partner / managing member of your enterprise's holding entity (a LLC or sub-S) who is physically residing in NV.  

As a short/medium term furnished rental, wherein you are targeting white collar professionals in town for 1-6 months (instead of AirBnB party animals that might trash the place), I bet it wouldn't be losing $600/mo as a rental. 

The use of the statistical information will allow to anticipate future developments, to supply the demand.Citizens bet on living in large urban centers.

Find a local meetup that plays the game & I bet you won't struggle w/ gauging a decision in real life after playing the game.

Maybe the best bet for me at this point is to try to work along side a syndicator, even though I have zero interest in syndicating a deal myself (just my personality) but the time is a tough commitment to me. 

Also on a side note, I think the storage unit, which is in the same physical building as the 1/1, could be turned into a small studio apartment...probably bringing in at least $500 a month in additional income.

San Diego is generally more desirable than Buffalo, so people will devote more of their income to housing, But I bet if you did this formula for every city the rankings would align very closely with the price to rent ratio. https://smartasset.com/mortgage/price-to-rent-rati...If you look at the list, San Antonio and Memphis are near the bottom.