On the other hand, the total gains = income + capital appreciation, that you can potentially enjoy in Austin will far outpace most other MSAs. 

I will double check this with an accountant, but off hand does anyone know whether the taxes due in each state are only from income made in that state or are they from the LLC's address state?

Hands wash each other. 

And it's a simple process to request to do business in your State as an Out-of-State business.I would also suggest you pick up a copy of Garrett's book: "How to Use LLC's and LP's" - it's awesome and breaks everything down for you.

It is simple and easy to begin the eviction process, and you can always stop it if tenant pays rent or moves out.

This is way more complicated than a simple residential lease.

I'll end this now with saying I'm looking to work with someone more hands on.

Rehab holdback of $42,500.Loan Term: 12-month interest-only balloon note.Payments: Interest-only monthly in arrears with balloon paymentat maturity.Interest Rate: 9.99% fixed interest rateCollateral: A first priority lien on Borrower’s fee simple interestin the Property and the improvements thereontogether with any personal property owned byBorrowers related to PropertyPrepayment Penalty: noneLoan Fees: The following fees shall be due: (1) 3.00 points, pluscustomary underwriting, processing, legal,administrative and site inspection fees to (**) at closingof the loan; (2) $50 application fee due upon signing ofthe term sheet.

I found a mistake my cpa made last year related to REI (it was a simple one but it happens) This year I found a tax break I’m pretty sure I can use in the future that I would guarantee you he hasn’t heard of.  

Slapping a hand written sticky note on the door of listed homes saying: "I'd like to buy your house, please call."