I am looking for partners as well as boots on the ground to build a team.Are you still looking to invest in that area? 

Property in Austin is also more affordable compared to other hot areas, including the Bay Area and Seattle.

If the tenants are on an 18 month lease, you run your analysis using current rents as projected income. this lowers your purchase offer, and punishes the irresponsible landlord for offering an 18 month lease at below market rents when he planned on selling. if the lowest price he is willing to accept is calculated using market rents, then you compare your risk aversion and capability to carry the property at a loss for 18 months to determine if it is worth buying still. likely not depending on how far under market rents are.

I believe the UGB will have expanded somewhat but the available land will still be limited when compared to demand causing an increase in price.

Follow up question, those of you using this niche/ strategy how does this compare to stick-built costs?

Introduce yourself and find a common ground before attacking. 

Here's my conundrum -  I have no comps to compare an ARV to.

Many who do this business remotely have developed some solid systems in place that alleviate the need for a physical presence, along with some "boots on the ground" as well.

But I know Detroit area as I have lent there since 2001 it was ground zero for a lot of real estate fraud.. so there could be some back lash there.

@Tony Han I’m still not decided on the whole turnkey vs. build-a-team on the ground approach... its actually one of the main questions I have right now.