That's a solid indicator that they overpriced it...which will at least give you an idea of what it isn't worth.Sounds like a very unique/historic property, which may limit your pool of potential buyers.

I live in a town where the 1% deals are not easy to create, and even more difficult and rare to just stumble upon, but they absolutely are out there.Some 1% deals are residences, some are parking lots, and some are a flat concrete pad with cell-towers disguised as flag poles.If you were to compare every 1% deal across a tough town you'd probably find lots of creative angles unique to each deal.   

Coming out of college I will have  savings for 5-10% but 20 is out of range.  

Best resale would be in the $250K range, after 8+ years.  

Home prices range from $40k for a 2/1 rancher that is vacant and needs full restoration to $400-$500k depending on size and location (some riverfront, no private docks).

Austin is right in the mid-range of the expansion cycle.

It took me about 4 weeks to find a realtor who could give me listings in my area with my target price range.

The numbers don't support it and there isn't a big buyer pool in that price range.

Plus their unique/arbitrary cap ex escrows which even they don't really have a specific number they will give you for how much that is per house per month.  

Usually somewhere in the range of 70%-90% to the investor and the remainder to you.