Self-managing will also increase your profit. 

With prices steadily increasing due to the high demand of homes in Austin proper it is very hard to cash flow.

It can seem a bit complicated at first, but once you have experts working for you they take care of all the complex parts.Bonus depreciation had some great changes, namely the increase to 100% and that used property now qualifies!

They are looking to close quickly. does anybody have any tips to increase my chances of success on purchasing this house? 

A side note your rental type dictates your customer.

CA isn't exactly the most relaxed construction / demolition atmosphere.Consider the cost to fix vs. the increased value you will have with an operating pool. 

Keith,Northern Nevada has been booming lately due to low cost of living (which has been steadily increasing), taxes and businesses coming to town.

I left that field and was a carpenter at a custom furniture shop for a period. 

The Brew City Real Estate Investors group is also a good resource I have been increasingly involved with if you’re looking for a meetup group.

As your loan gets paid on time, and you show a positive trendline of increased DSCR I'm sure you can ask to remove this quartlerly requirement.