However, if it were me I would be bugging a local investor just as a sanity check(if you know one, if not, hopefully someone familiar with your area can weigh-in on this thread).I don't know how close you are on your estimated repair costs, but I imagine you are within the ballpark.

When the property first came out I just sent a quick e-mail to the listing agent telling them I was interested. 

I can’t imagine any buyer would do such a deal if there’s a negative cash flow of over 4K each month even with all the pros of doing seller financing.

And most of the people moving between the two states are in their 20s and 30s regardless of the direction they are moving.After 11 years in Los Angeles I moved to Austin 3 years ago and can't imagine a better place to be. 

Since he does not use the condo as an investment i'm not sure if a 1031 exchange would still be possible, I sent an email to a 1031 attorney I know but was hoping to get some feedback from hopefully someone who has dealt with a similar situation. 

And their realtor never answers their phone or emails.

If the tenant doesn't respond appropriately to the initial legal notices to comply with the terms of the rental agreement, then we turn it over to our attorney to proceed and their process server will deliver subsequent legal notices.For simple communications, some landlords have success with email and/or texting.

I'm going to put a package together to walk around to all the local backs and email to the backs out of compute distance.

I would imagine it might vary by lender.

This is by no means easy... as you can imagine this type of deal is not something you find every day, but I have represented a client who had this type of opportunity.