The number of STRs in that community have doubled in the past 18 months, the HOA reports 160 operating there. 

For the 10 year period spanning August 2014-2024, single-family prices in Austin nearly doubled, yielding an annualized appreciation rate of ~9.5%.With inflation nearing its 2% target and signs of a slowing labor market, The Federal Reserve is predicted to cut rates as many as three times before the end of 2024 (see here).

No tenants - No turnover, evictions or chasing rent.No liability - No worries if a homeowner slips and falls.Secured - the investment is secured by real estate.Insured - unlike a stock, the collateral (property) is insured.No taxes and Insurance - Homeowner pays and TI is typically escrowed with the servicing company so no need to track.Notes are typically more liquid than rental real estate.Consistently higher returns - Typically double digit.Scalable - easier to manage several hundred notes versus several hundred rental properties.No HOA or COA - homeowners must pay directly.No property management costs - instead we pay a fraction to a servicing company to collect payments.

Are there any specific things I should double-check or potential issues I should be aware of?

In the last 5 years they've doubled (see chart below). 

New constructions in the neighborhood are selling for a significant amount above construction costs (double or more the market value of the land).  

Both properties have mortgages more than doubling the value of the property.

Hello community,I am working towards doing my first wholesale deal and I am wanting to do it as a double closing (transactional funding ).

The combination of high price and a doubling of the interest rate results in high cost for financed RE. - Rents have not and cannot keep up with the cost increase of financed properties. 

I had inspector dictate double ground at a new electrical panel.