I know San Diego may seem more saturated but the occupancy rate there is still very high. 

Unless I know the General Partner and have high confidence, personally it seems risky to do a invest and forget method in real estate.

For some people, investing in real estate passively, as you have done, is best because they have other obligations such as a high-powered job, family or just don't want to deal with the operational side of the business. 

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).

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!

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.

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