Circumstance of needing a place to live with the intent of selling for a profit mitigating costs How did you find this deal and how did you negotiate it?

So having said all that, properties that attract high quality tenants (location, location, location) cost more and have lower returns.

If Tenant Defaults under this Lease, Landlord may exercise all rights and remedies available under applicable law, including the right to: (i) terminate this Lease; (ii) regain possession of the Property through an eviction or similar process; (iii) recover from Tenant all unpaid Rent, including unpaid Monthly Rent, Additional Rent, Late Fees and, if applicable, holdover Rent for the period prior to Tenant’s delivery of possession of the Property to Landlord; (iv) recover all Rent payable under this Lease for the period from the date of termination for Tenant Default through the stated Expiration Date, less the amount Landlord is able to collect from any replacement tenants for that period; and (v) recover allreasonable costs and expenses incurred by Landlord in repairing any damage to the Property, caused by the improper useby any Occupant or any guests of an Occupant, less any amounts obtained from the Security Deposit.

Your only issue is that STR management is costly in Austin, up to 25 percent.

Or a $500K property with a rehab budget of $200K and $35K for carrying costs and an ARV of $1M.

I got a structural engineer to look at the house and he said I would need to take out the floors from the top down redoing all the floors and most of the crawlspace and that would likely cost about 20k.

Take the selling price $750k, deduct selling costs ($50k?)

I have been trying to gather as much information as possible and make sure that I don't make any costly mistakes right off the bat.

., pay off their existing loan, closing costs, and/ or put some cash in their pocket, etc)There are 2 "legs" of the transaction.

Not a high cost of debt/capital at all, so we are not concerned about the balloon payment.Regarding long term goals, we plan on building slow and steady over the next 10 years, but then have them all paid off within about 20 years for retirement income from the rentals.