Your best bet is to get it under contract with some due diligence time to get in and inspect. 

With that kind of knowledge I bet! 

Corp rental is probably a safer bet, because the HOA has defined rules for it, and we will (conservatively) cash flow $500-700/month. - I have another rental condo (3 bed 2 bath) that I used to live in before.

With that being said I believe Orlando or Tampa are going to be your safest bet right now since they are growing fast and infrastructure is improving greatly over the last few years with more still being worked on as we speak (such as I4, any one that's been to orlando knows I4 haha) and with Disney pretty close to both (Closer to Orlando) its a safe bet whether you plan on renting it out or AirBNB it.Any questions you have i'd be happy to help!

Also, the new loan would make the mortgage go up so you're betting on the renter paying more than the new $200k mortgage right?

I bet your answer lies somewhere in between.If ARV is $170,000, and plenty of notice is given for investors to research, the auction should easily send it higher than $110,000.

But lately, I may have to adjust these goals as Austin is a tough market and I don't want to bet on appreciation especially on a first deal.

Your best bet is to either pay down most of your debt, or add a co-borrower who makes a good income and has good credit.If this is for an investment property that will have rental income, and the $1200 already includes your primary housing payment, you have more options.

Amit - Being that we are at the end of 9 consecutive years of increases in prices in the market I would not be betting on prices holding over the next few years.

I hate Home Advisor for what they do to contractors, but they're your best bet.