Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

I have the pro yearly plan but if you have one property it may be best to opt for the starter plan and use a less costly lease builder like EZ Landlord.

Buyer pays closing costs & loan doc fees: $3,800 approx.Total Entry Fee: $23,800 to close -- or 9% of the purchase price!

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.

All said and done it cost me an additional $2300 in fees for the HML that went past its maturity date plus the appraisal, all this could have been avoided if they told me they had an issue with my credit score from the beginning. 

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

At that point I’ll pay back my 401k loan, pay the seller and save the rest for repairs.I’m beyond excited because it’s been my dream to get into the real estate game.

Is there cities where a low cost is possible to qualify for a DSCR loan? 

Is anyone familiar with Pace Morby Gator Lending program that costs $3k?

For the full appraised value or just enough to pay back the small note+renovation costs?