Unless they are absolute rock stars and I have no other strong prospects in the onboarding flow, I will not deviate from this. 

House has been rented for 14 years, producing decent returns and solid depreciation!

I am open to SFH, Multi, STR, MTR or long term rental.Areas interested - Austin, Round Rock, Cedar Park, Leander.

STRs are one of the best ways right now to purchase cash flow producing property in Colorado.

Just know that in a few years, you might be a little frustrated at the relatively small cash flow compared to the large number of units/tenants, even if it produces a pretty good return. 

Prime income producing properties are selling quickly with significant interest, albeit after a brief stall as rates spiked at the beginning of Q4 2022. 

The property in its 5th year will have paid my purchase price back and will continue to produce around $1000 fcf a month.

Full Rehab will produce a great ARV and allow us to pull all our cash out What was the outcome?

It drops down over time as you get established.A 25 year veteran I know has a solid team in place, his Realtor and other referral partner network, lots of past clients in place, does zero marketing/outreach, is a top 1% producer.... and lives in Europe about 40 weeks out of the year.

The good news is there is now more of a need for rentals, the bad news is rentals may not produce as much cash flow now.