High leveraged OOS move in ready mls properties are unlikely to cash flow regardless of what agents try to represent.  

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

A person can be selling a property with a NOI of $100k and ask $4m, the CAP rate will reflect that their expectations are too high (for an investor at least) and all the market factors, location, comps, fed rates, will put their expectations on a leash (or justify it). 

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).

(FC)-Bitcoin nears its all time highs.

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!

Think about your SO preparing food for a SuperBowl party.