I'm definitely going to talk to a lender and CPA and try and get my finances adjusted when i file my 2020 year.   

As mentioned, there are other strategies to achieve a better risk-adjusted return (lower risk, higher chance of a higher return) than SFH. 

According to a report by the Austin Chamber of Commerce, Austin's seasonally adjusted June unemployment rate is 6.4%.

(and then later adjust leases so tenants pay their own utilities) It's a significant extra cost, though I do like the idea of the combi units in principle.

Given this new information, back to my original question - are folks adjusting their underwriting now assuming a potential downturn or operating as they were prior to COVID-19?

Then when you bought it they may have come out to read it and adjusted their original math for losses, or just mathed it based on another seasons math.For instance summer math may be greater than winter math, and based on when YOUR initial read took place, the amount on the meter used vs the amount paid to date may have been you initial starting figure for your math estimate.

I like the CSprings area and I agree with the approach although I would adjust my target and look down range a bit.

Adjust based on the age of the property and any know issues that may be upcoming.Vacancy is super local, but I like 8% for MFR.Always include Management (10-12%) in your underwriting, even if you plan to self-manage at first.Are both units separately metered for water/sewer?

I would adjust to 900 for the 2x2 and 600 for the 1x1's.

Focus on that and it should provide some clarity on how to adjust your investing strategy. as for the money, rates are super low and inflation is set to rise, so it's probably not an efficient use of capital to pay things off but that may not matter depending on your goals, it's good to consider though.