@Chance Housos Thanks for that advice!

You can check your state landlord tenant laws,, but if you choose to remove the unit from rental availability you then would have no course of action to recover lost rent up to the date you stop advertising that it is for rent..You can't just choose a length of time you think they should be responsible for if you take the property off the rental market.So your chances of getting a dime from them is like POOF.. not much.

Sure, it's a stretch, but the more motivated they are, the better you can create a relationship, the more your chances improve.  

I'm going to be diving into real estate within the next year and want to know where I should look to buy so that I have the greatest chance at success!

-If I'm good at finding deals or have a motivated seller, there's a good chance I'll be purchasing below the appraisal value, correct?

Furthermore, demand for Austin real estate is so high at the moment that there's a good chance you can make a great profit, regardless of the price you pay to purchase the home initially.There's also a new reality TV show specifically about flipping houses in Austin, called Flipping Austin, which is a good sign that flipping houses in Austin can be a lucrative entrepreneurial venture.

Yes there is a chance that it hits the market overpriced.

Why have one you know is going to break even if fully occupied with a high chance of taking a loss annually. 

By chance do either of you know if there is a title company in the area that will give me a list of cash buyers for free?

There's a good chance they'll still be there 5 years from now.