There are also some really great resources for anyone starting out with some local groups such as AZREIA where we have monthly meetings and some great subgroups, including a new investor subgroup. 

Borrowed 250k from a private money lender (local attorney) at 10%, to be paid in a balloon upon the sale.

Also the constant in and out of different families probably wears the property much faster than usual, there is much more liability with constantly changing  tenants, and many locals governments are creating ordinances against them.

I definitely encourage you to visit whatever market you plan to invest in to familiarize yourself with the area and connect with local professionals.

Look at credit unions if you really want to go that route and if it is local to Austin.

Columbus & Raleigh-Durham are both great places to invest as an out-of-state new investor Short-term rentals can be challenging and is always subject to new local registration and taxes. 

Bankrate wont do it best rate is always check local Credit Union, they are always the one that usually having crazy offering...chck your local newspaper, no nationwide lender can beat them.I only go to DSCR route when I exceed my DTI (which I already hit) lol

They can help guide you in specific local markets.

That's time for a new negotiation and they will likely buy your Option back from you.You can also sell or trade Options for cash or anything else you like and they are great to hold in retirement accounts too.I currently hold an Option which I paid $4500 to the local County for the owners delinquent property taxes to save his house from foreclosure.

Can you wholesale a deal that is being advertised on the MLS that it has to be done via a Quitclaim Deed?