Robert Howard closing costs like your origination fee are added to the basis of the property and depreciated over 27.5 years assuming its residential.Not a tax professional, no tax advice given

Readers are advised to seek professional advice. 

IE own an income property that has a professional manager to manages the onsite manager LOL.. 

I was just trying to get some very basic info, before I reached out to a professional who could answer those questions.

I also offer services for newbie sales professionals and real estate investors.

However, there are some strategies regarding partnership shares between two spouses that may create a more beneficial tax situation with regard to income that's subject to SE tax- this is a more complex setup and should be done by a professional. 

-is it relatively easy to find a professional to rent a single room in that zip code (south austin)?

Make sure taxes are paid, check for liens and have the property inspected by a licensed professional.

Min 2 year credit history as a professional unless you are a physician.

I have professional experience in construction and a ton of residential renovation contacts in the area, so I believe I have a leg-up on the rehab side.