For payroll, ask the seller for a staffing matrix, this lists each position working at the property and their salary. 

You could easily flip this article around to show the positives. 

If you have deep pockets, I think Austin will eventually reward you, but if you are a newbie in real estate looking to cash flow positive day one or shortly thereafter, Austin is probably not your best bet in TEXAS.  

Equity position How did you find this deal and how did you negotiate it?

If they don't pay your judgement you file it as a lien at the courthouse and they won't be able to get a mortgage to buy their home until that judgement is paid because that lien would apply to any house they buy and be in 1st lien position BEFORE the mortgage.

Quote from @Hanna Brown: @Jay Hinrichs If the bidder at the auction pays cash for keys to get the homeowner out, does the person redeeming from the owner position (exercising rights of redemption w/in 180 days) have to reimburse them for those costs they paid to get the homeowner out? 

However when a great property that fits what we like (ugly and a great price where we can use our skills to make it beautiful) comes around that we can take advantage of our position and get it, we want to be knowledgeable about that property type and be able to jump on it. 

HELOCThis takes either first or second position (depends on whether you have a mortgage) and is a variable rate line of credit.

She is in a good position with the contractor who appears to be in direct contact with the tenants in terms of minor fixes as they arise. 

Gap funding or junior position funding is highly risky. your team has no real money in the deal..