Austin is strong.Leasing is still going strong albeit with slightly above average price reductions.

Not will be called but could be called.So an all cash payoff within 6 months or so (fast) versus a long hold (slow 36 month plus) is strongly advisable. 

You're better off investing in a market that you have a strong chance of achieving your goals than to buy in a sub optimal market just because you can drive by and see your property.

So, at least in Cincinnati where COVID has not gotten a strong hold due to early stay at home directives, people are still looking and not asking for below market rents. 

"The challenge of leadership is to be strong, but not rude; be kind, but not weak; be bold, but not bully; be thoughtful, but not lazy; be humble, but not timid; be proud, but not arrogant; have humor, but without folly.""

It has been a strong sellers market for the last 12-18 months, but that may change with covid now.The two issues you need to be aware of are :1) Finding a good cleaning company is tough.

I strongly suspect the market will stabilize and continue to grow once the crisis has passed in the coming months. 

I am strongly leaning towards my final and best being exactly the same as my original offer with the addition of an escalation clause where escalation is dependent on verified offers. 

And if you put a conventional loan on the project and don't refi out that 401K loan, then you need very strong cashflow on the property to get it paid back quickly (hence why I like the BRRRR strategy better).If it were me, I would be saving like mad for the next 60+ days, studying my markets, building my teams (especially lending), getting solid deal flow going in that area so I could choose my projects.

Little did I know Austin is one of the fastest growing cities in America with strong appreciation over the last 10 years.