What I will do is attempt to find a QUALIFIED substitute tenant, credit the original tenant with the rent paid by the new tenant LESS one or two months fee for the extra work and effort, but I will NOT release the original tenant from liability should the substitute tenant default.Look, the bottom line is that renting to tenants is a business, just like any other business.  

They let my on-site manager know they were going to "take a trip for a birthday party" and have not returned. 

We are very familiar with the area but need advice on how to identify potential opportunities and analyze the deal as an investment property. 

Some people don't have financial situation, nor have the bookkeeping to track or maintain it.Again, I personally find it very stressful just thinking about living that way for the life of the loan keeping the lowest daily balance possible. 

If you are looking for loans on real estate or a business lenders don’t necessarily care about the credit history of the LLC - they care about the performance of the asset and your creditworthiness since you will most likely have to sign personally.I have established multiple LLCs just days before closing on large loans for different assets, those particular entities barely existed and the banks did not care.If you are talking about pulling a business line of credit (like a HELOC, but against your business equity) then the banks like to see some history of revenue.

Think MTR will continue to be the best niche for Austin this year and likely beyond

Your first trip should be to the Planning Dept and ask if it's possible based on the zoning, and if they would view it favorably.

Is it worth keeping the house and increasing the rent to $1750 or should I sell in the market that we are in?

Also interested to know who has had positive experiences in the area.

You aren't going to get any of that information in advance of making an offer, outside of what they are providing which is usually a little slim.