Now, I'm not a foreigner, so the to-good-to-be-true price immediately raised suspicions, but I contacted the seller anyway, while I continued to do a little research.  

Clearly, that was not true as the subsidized people are still being subsidized.  

The sales pitch sounds too good to be true.  

    The beauty of creative financing is that there are many components so it allows a buyer to craft a good deal from one that may not appear to be that good or a great deal from one that is already good.

@Reuven Cohen,I don't follow your advisory, if you follow the laws, pay your taxes, and buy a place that allows for these types of daily rentals, the risks are mitigated.That's true that the risks are mitigated if you follow the laws, pay your taxes, and buy a place that allows for these types of daily rentals.

If your true end goal is building passive income I would honestly stick with selling cars if I were you.

Something like that would be a dream come true in certain locations of Austin, and it probably exists there (and has probably already been bought by an investor). 

In terms of pure RE like with any huge city space is at a premium so except a tiny living space but from my travels to Europe that is also true there (if not more so).

Maybe they will start to figure out their true worth in the situation. 

But it might still be true: "The hard part is finding buyers" (full stop).