My concerns are... cutting my current cash flow, and acquiring a new property at a massively inflated price that will not cash flow great (after I move out).   

That exceeds the 1% rule but my question is, is it bad to buy cheap real estate that cash flows high or better to buy more expensive real estate that cash flows low?

Sellers should know that there is still strong demand for Austin housing and that prices are still considerably higher than just a few years ago.

The cash flow is great and you get the "down payment" up front.

It's going to be very difficult to find anything on market that cash flows.

Some things to consider:* usually used for single family or 2-8 multi family unit properties (fits your scenario)* must be for investment, non owner occupied (if looking for a product for alternative qualifying solutions for owner occupied there are other products)* can close in a personal name or LLC* usually 80% LTV for a purchase (20% down payment) & usually 75-80% LTV for cash out refis* prepayment penalties vary and are optional, but the higher the prepayment penalty, the lower the rate / options typical range from no prepay all the way up to 5 year prepay and structures vary for how those penalties work (3 year is my most popular by far)* appraisal most likely required and paid out of pocket during transaction* can be used for long term, mid term, or short term rental properties * generally 1%+ is the desired DSCR ratio but you get better rates if the ratio is higher (usually rate breaks kick in at 1.15%+ or 1.25%+) and you can still get the loan done if ratio is lower than 1% but the rate will reflect that (DM me if you wand help learning how to calculate the ratio)* the average time to close is 21-30 days* fees vary lender to lender and product to product, but $1595 underwriting plus title fees is pretty standard* 700+ credit is preferred to get max LTV, but plenty of options if credit falls below that* a typical loan minimum is $75k (have limited options for $50k+) and typical loan maximum is $3-4m (have limited options for $4m+)* 3 months reserves usually required, having 6+ months will usually result in better loan terms, 0 reserves can still get the job done if you go with a program that allows you to use the cash flow as reserves* 30 year fixed, IO, and ARMS available

I am looking to house hack after college and these are all great considerations to have when doing a house hack, especially the animal aspect as well.

This equity can be leveraged for future investments.Cash Flow Generation: By renting out the property, investors can generate rental income, which can be used to cover mortgage payments, property management fees, and other expenses.

I would also recommend looking into finding distressed properties that you can rehab and rent for positive cash flow.

It has exceptional appreciation and outstanding cash flow.