@Allie McAlister I'm looking to stay local to begin with.

@Diana Mulvihill A lot will depend on your local market and competition.

I'm a part-time CFO (Chief Financial Officer) for real estate developers across the country, most of whom are trying to give back to their communities through their real estate development skills.I'm also a former Director of Lending for a CDFI that lent money to local developers rebuilding LMI and under invested communities. 

These properties are now rented as long-term rentals, and we plan to expand our portfolio while also branching into short-term rentals.Looking back, I realize how much my current knowledge and experience could have fast-tracked our success.

The 6% vacancy rate is a good estimate, but local market fluctuations could affect rent.The HML terms (11.95% with 3 points) are high, so ensure a clear timeline for refinancing to minimize interest costs.

2) Local RE meetups.

From what I’ve seen in Bloomberg, it also doesn’t hurt to keep tabs on any shifts in local buying trends.One more thing I’d consider is the exit strategy.

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

Term 12 years so that payment is just about the same as local renting market pricing.

Quote from @Ray Joseph: If you attend a local meetup, I'm sure you'll find investors that operate in other cities or states.And you have thousands of out-of-state investors to mingle with right here!