Any savvy investor should perform their own due diligence prior to investing in any market.

I have the opportunity to purchase two short-term rental properties that will perform very well.  

And we all know from the weather comedians how accurate forecasts are.

Is it accurate to say that the money put into the rehab considered an expense (i.e. painting, new fixtures, etc), but the money received back after refinancing is now considered taxable but just part of the loan? 

I even had agents ask for proof of a lease first …How am I supposed to accurately analyze? 

This is also a slight uptick from the September 2021 median home price of $450,000 in the Austin-Round Rock market.Here’s how submarkets in the Austin area performed in October:City of Austin: The median home price climbed 21.1 percent year over year to $536,000­­, while home sales decreased 11.7 percent.Travis County: The median home price increased 21.8 percent year over year to $522,625, while home sales fell 16.9 percent.

Given your goals, you might want to  entertain the option of selling (flipping to an end buyer, rather than flipping to yourself. ) You could then use those funds to buy an already performing rental somewhere, since you are open to multiple markets. 

Once you do enough walks and get bids, you'll get a better idea of what costs what in your area.If you can provide a service for a seller (get their home sold without lying about your intentions) and be honest and provide accurate rehab costs and accurate ARV's to investors, you'll do well and build a name for yourself.

You can call a title company in your area and they will give you accurate estimates of closing costs on a deal.

There’s a property I have in mind in Jefferson County and before approaching the owner and making an offer I need to figure out how to find reliable contractors to perform the work in a timely manner.