I have zero doubt there's a lot that makes CO investment a smart play, but unless I'm missing something (and I am pretty new to RE investing), those factors all add up to an appreciation play, correct? 

So I’m taking it with a grain of salt, and also working on my own fear and doubt.

We could only do 10 percent down, so it looks like I wouldn’t be able to rent the condo for above the mortgage, since I highly doubt that a 2 bed condo in Southeast Austin would rent for over $2000 for quite some time.

With how low cap rates are right now, I seriously doubt it will be worth it to condo convert but it is still worth the excercise. 

You will have to personally guarantee, no doubt about that.

Both the mentor and loan officer kind of explained it to me but I m hoping someone else might be able to put it into lamen terms for me and maybe clear up any more doubts I have before getting into it.I am looking at properties that are roughly 100k and 7% interest (about) and was told I can get a 2-year interest only loan.

To mitigate further costs from the contractor delays due to her not being able to leave the unit, I paid for her hotel stay and a moving truck to load her belongings for 3 days.We repeatedly urged and (demanded) the tenant to immediately obtain tenant insurance after moving back in.Overall, I had to pay $5.5k to cover everything, cement, deductible, hotel stay & truckThe tenant emailed the PM saying the bank/insurance company wont’ insure the unit because there was recent flood. 

I have a feeling you know the answer to all your questions, but you only doubting a little of your potential.

I doubt this passes any. 

Rhove probably takes fees and cash flow beyond the 5%, no doubt they have terms around that (as all sponsors do).