The prime rate now is at 8 ½%.

While evaluating potential investment properties these past few weeks, I have realized that the average rent in Austin is comparatively lower and due to high interest rates and property tax, the outcome is mostly negative cash flow. 

It's hard enough borrow at regular mortgage rates and generate cash flow. 

I'm assuming that with your hard money interest rate will make that a pretty high monthly bill.

Our broker mentioned that the average interest rate is 7.5-9% and they have never seen the rates drop below 7%.

All 3 units were occupied very quickly and the property is now cashflowing above our projections with vacancy rate (so far) below what we expected!

I do want to sell a house at discount.

Marie is an old city with a high vacancy rate, declining population, poor tenant quality, and will never see any meaningful appreciation.

The only downside to these is they are typically higher interest rates and shorter terms. 

After doing this, I then run the property through Airdna.co and/or Mashvisor.com  Both of these tools will give you projections of what type of rental rates, price per night, bookings, occupancy, seasonal variations, etc.