We would need to know the "whys".

I made most of my mistakes in the first handful of deals I did because "I didn't know what I didn't know".

Another lender who is also an investor, says its really not allowed in our area but she knows it happens.

Make sure your accountant knows you lived in it for 2 years of the last 5 to avoid that cap gains tax.

As a first-time landlord, I'd feel comfortable renting this out knowing that it will not need heavy repairs and know the area wellWhy renting will not make sense:1.

Who do you know that's new to being an agent in Austin or is looking to become an agent in Austin?

It's gotten better over time for me to connect with buyers, earn their trust, and figure out what drives them.It's not enough to just talk about numbers in a negotiation; you also need to know what the seller is going through and what their top goals are.

Or rent out, refinance , and recoup money else where knowing what I know now .

Let me know and I can put you in direct contact with them  Quick closings. 

I don't know your market, so I would not be able to advise you, but just consider the sellers motives and make the terms beneficial for both parties.