I realize that I will lose out on a lot of potential gains that the turnkey company capitalizes on, but weighing that against the time factor which I don't have a ton of.Thoughts on going with new construction?

As much as possible I'd recommend getting really clear on your goals in life and how real estate fits into those, and then iterate from there.If you are buying at a distance (specifically you're not moving from house to house and collecting houses as you go) then it would be a great simplifying factor to buyer AN asset or two with many doors, but there are other ways you could structure it so that small multis are the way to go.So, back to the root . . . what do you want to accomplish in life, and what role does real estate investing play in that?

If it is $1000, charge $550 for the room (assuming it is a 2 bedroom) and factor in average utilities.

Thanks to both Dan and Jesse for the response - definitely thinking that now is the time to take advantage of lower jumbo rates, so long as I can get a good enough comps for the appraisal, since that'll be the key deciding factor of refinancing here.

You can still find fairly easy cashflow in the Austin suburbs, but you'll most likely need to factor in basic repairs and paint and flooring into your calculations.

But your price point will be the determining factor.

Only your mortgage and the rental income will be factored into your DTI.

@Jose Valdez this may sound broad, but study every factor/variable that may have an effect on your investment strategy and specific target market.

I've known about Bigger Pockets for years, but real estate investing never appealed to me for a variety of factors; therefore I never made an account.

In addition, you will have to calculate repair/renovation estimates so that you can factor it into your offer.