In my XP over dozens of flooring projects I’ve almost never found Lowe’s or Depot to have cheaper options at comparable wear ratings and thickness, which is often a direct indicator of difficulty/labor cost on install since often: cheaper = thinner = lower material cost subsequently lost in higher labor costs and waste/broken boards.

Data from job website LinkedIn indicates Austin is the main magnet for U.S. professionals seeking a new place to live, work, and play.

I would feel more comfortable if you indicated a longer intended hold (10 years).  

The mortgage broker indicated she is on board to entertain the idea further as long as my debt servicing ratio is satisficed.

Could you indicate why your preference for rooms, as opposed to the entire home to a family.   

Don't allow financing or a finance contingency (it can be a good indication they are selling above market value) 2, Don't allow for your own independent property inspection 3.

Hey Susanna,I agree with Canesha the brokerage that you choose to work for is one of the biggest indicators of whether you will succeed or fail.  

The indicators you are noting show the market is either at the top of the market or already past the top of the market. 

In practice, the rents appreciate more than the non-fixed costs and therefore cash flow improves over time.There are variations in properties and their associated expenses, but I would think it is likely that you have either very modest positive cash or modest negative cash for (so about cash flow neutral) at 80% LTV if calculated with my pro forma numbers.As indicated, historically the cash flow improves over the long term from the initial cash flow position. 

Reports that I have read online indicating the Multifamily homes is what investors are getting and the best first step in RE.