It happens frequently when I work with an investor client to buy an off-market deal that they pay my commission - it's reflected on their side of the HUD.Getting back to the case above, sounds like the seller might need to come out of pocket to pay the realtor fees at closing since the buyer is not paying a price high enough for the agent to be paid out of seller proceeds...

Expenses might be 10% higher if it's a D class, and a lot more work than you might anticipate including much more frequent evictions

@Brandon Sturgill this is done frequently it follows the auto industry...

I'm in that area frequently so perhaps we can meet up sometime.  

-My website is frequented by both agents and buyers routinely.

One of the more frequently mentioned ones are cozy.co.

@Andrew Postell will tell you about the Texas-specific cash out refinance laws.Ask you skim through lender/Fannie/Freddie/etc guidelines, you frequently see "Cash out refinance rule is bla bla bla bla" and then a note at the bottom: "Except in Texas, where bla bla bla bla."

(as in the triplex example) and studio for presumably less, paying $535 for a "room" in a house suggests to me that either there is a severe housing shortage in your area, those "rents" are inflated (because of frequent vacancies/evictions, etc) or you will have some very challenging tenants to deal with here.       

There are many meet-ups here in Austin.I would go to as many of them as you can and be a frequent attendee. 

I currently live and work in Chicago but am from MN and frequently visit.