By definition, these type of loans are not the same quality as what is traded on wall street. 

You don't want to overstretch on the first one.In terms of evaluating quality deals, you won't know what those are for a while so you want to get as many reps looking at properties as possible.

Run your numbers based on youre required return given what youre likely to have to spend and the amount of headache, risk, and work you have to do.

Fix the caulk on your own dime.  

, you have put me on the right track with very clear and concise observations to think about while evaluating my market.  

I am looking for recommendations for best financing options.The owner is considering financing it, but until they agree, I am planning as if they will not do so.The local credit union I use, who is very investor friendly, is unable to lend on properties larger than 4 units right now. 

Don't pile on risk at 21 y/o. 

Focus on market research by exploring neighborhood rent trends and property values while considering your financing strategy (house hacking, BRRRR, or buy and hold).

I’m brainstorming ideas on how I can market myself to potential mentors in the STR game in order to gain experience.

As you're just starting out in Austin, focus on learning the local market, particularly areas with good rental demand and lower entry prices.