Also, no real management companies that I know of if you're seeking to have someone manage it.Although some units are rented, I would recommend assessing the demand for rentals in this rural area and how long it would take to find a renter at the price point in your area.

Supply and Demand Rule.

And it's in an area with no buildable land, lots of spillover higher rents from nearby areas, and very high rental demand, with essentially no vacancy.

Since we have such demand here in Denver, why not wait until you know 100% that you are two weeks out from completion? 

He demanded a buyout, and since my father was the mortgage holder, I was put in a very difficult situation where I had to buy him out for a couple thousand dollars... out of a house with no equity!

Demand is through the roof!! 

They won't even tell me how long I have to close, but I'm assuming they are going to demand a damn fast closing or will cancel.

They are enough in demand that the only ones you will get without cash or owner occupancy are pure dogs. 

The Austin market is competitive because of big demand.  

This will impact demand in the area.Just hammer out the due diligence and make sure that you have a local partner helping you chose the right investment for your portfolio.All the best and good luck.