The first person didn't do a good job with the market assessment and priced it high given the market. 

Also a side note, when looking at an STR investment in Austin, factor in the high annual property taxes that can get up around 2% of the appraised value of the house (ie house appraised at $500,000, pay $10k/year in property taxes)Hope this helps.

It's a breeze, the cash on cash return, while low in absolute terms, is crazy high (3% down + seller credits).

Because there is a very high chance you will never see the 7500 again and the loan wont get funded this is exactly how fake lenders work.

Hey @Dutch Marc, Given we are accountants, we cannot promote our services on BP as its against the rules.To help in your search:be sure to find an accountant who is willing to grow with you, and is not too high priced fee-wise.

I highly recommend it!

Now it seems to be a different ball game with rates being so high. 

From serving the initial notice to the final resolution, we'll explore each stage in detail, providing valuable insights for both landlords and tenants.

A break-even duplex in CA has the potential to have high cash flow in just a few years due to the following 1) low prop taxes increase of 2%/yr 2) low turnover due to rent caps 3) 7-10%/yr rent increases 4) better tax shieldingThe real question is whether you’ve underwritten the duplex correctly.

Maybe not as much as WA, but...In WA You also have high gas taxes and high excise taxes.