Crunch the numbers - Carefully calculate potential cash flow, ROI and cap rate.

The reason I haven't switched to streaming at my properties is my banker complained that when she stayed at another property in my market they had streaming and her large party of professionals couldn't watch an SEC football game and they had to watch it on their phones. 

You're making yourself an easy target and there are a lot of unscrupulous people out there so please be careful and (speaking like the mom that I am) hold your cards a little closer to your vest.

Real estate professional (for this posts sake) simply makes rental activity active, so you can use the losses there to offset other active income. 

Communication and Documentation: Continue to communicate with the tenants about their overdue rent in a professional and respectful manner.

It is important to consult with a tax professional or attorney specializing in 1031 exchanges to ensure that your friend's specific situation and intentions comply with IRS regulations.

The options we're considering are either a multi-family unit in the city or a short term rental property in the city or up to 2 hours drive from Sewickley.However, we're in need of professional guidance to help us make the best choice for our family and investment goals.If you were in our shoes, what would you do next? 

As you get ready to start investing I'd encourage you to connect with a local agent in the area that you are looking to invest and they can connect you with other professionals you'll need like a good lender, insurance person, property manager, etc...

Here are a few strategies to help you connect with professionals in the area:Attend local real estate meetups, networking events, or investment clubs in Austin.

Lots of multifamily homes and a high demand for rentals between students and young professionals.