this came out today https://www.kxan.com/news/loca...I reviewed a podcast from a dude who was interviewing a bunch of real estate brokers in Austin and a statement was Del Valle and SE Austin will never become a 500K + community......while all this development is good I always believed demographics and high income drive real estate prices ..

Personally, for a property like this, I much prefer the "cash-on-cash" return metric to evaluate and decide if it is a good investment as it sounds like it is a single family rental.

If I were to always follow that specific metric, I would still be trying to chase my first investment.Good luck!

You mentioned taxes being high over 4.5% of purchase price, is that a metric I should be using in the future for deals?

Make an offer contingent on inspection and a review of all financials, leases, and other pertinent documents.

I reviewed the contract and unfortunately I didnt find any clause that states a deadline for their renewal decision or that it will convert month to month after, is it by default? 

For support, it cites a specific court case from 1981.From my quick review, I'm pretty sure that the IRS attorneys misinterpreted both the IRS statute and the court case, and I can see where they tripped.

I like to study and review appraisals to help me better understand how to analyze a good comparable.

Just find the person that has the most reviews and copy and paste.

Make sure you review all the leases and compare to bank deposits if possible.